EIL eyes key role in city gas

By: Alvinli Mood: Date: 09/02/2010 02:27:57 Music: None

Engineers India Ltd (EIL), the public sector engineering and consultancy services company, is working on a plan to play a key role in the city gas distribution sector.

It is looking to pick up equity in various companies that are securing approvals for implementing city gas distribution networks.

"We would look at buying 25% of a city gas joint venture. Funding is not a problem. We have about Rs 1,000 crore in the form of reserves and we will make use of these funds for the proposed equity investments," R K Grover, EIL's director - projects, said.

He said EIL has already hublot big bang initiated talks hublot big bang with some of the players in the city gas business. Public sector gas firm GAIL and the Adani group are believed to be the potential partners EIL is replica handbags keen on forging ties with.

"We replica handbags are in talks with GAIL, Adani Group and a few others for a joint venture," Grover said.

Adani Group has already secured approvals for city gas supply operations in Ahmedabad, Vadodara and Faridabad. Adani is also said to be in the final stages of getting approvals for replica handbags the gas distribution in 5 more cities all in the North.

However, GAIL is expected to get more number of cities in its fold, particularly the metros.锟?

EIL is also considering joining hands with others to operationalise the now Little Black Dresses defunct Ramagundam coal-based fertiliser plant in Andhra Pradesh using gas.

"We are open to diversifying to new areas to ensure an attractive IRR (internal rate of return) for the company. The company will sign an MoU with GAIL to set up a solar power plant. A configuration study for GMR refinery project in Kakinada, assisting expansion of HPCL Little Black Little Black Dresses Dresses run refinery in Visakhapatnam, expansion of capacity by 10 million tonnes for Chennai Petroleum Corp and preparing a DFR (detailed feasibility study) for BPCL in Kochi are among the other projects that we are taking up," Grover said.

Credit:K V Ramana