GAIL (India) Limited has signed a Co-operation Agreement with Ashok Leyland Project Services Limited (ALPS) today for pursuing business opportunity in Compressed Natural Gas (CNG) and related sectors in India and abroad. The Agreement was signed by Mr. B S Negi, Director (Business Development), GAIL and Mr. Asghar Ali, Director, ALPS in presence of Mr. Proshanto Banerjee, Chairman and Managing Director, GAIL.
GAIL and ALPS recognize the potential of adding value to their businesses by a co-operative approach based on their complementary skills and strengths in diverse markets to jointly exploit project opportunities.
As a part of the Co-operation agreement, GAIL and ALPS will jointly identify and evaluate business opportunities in CNG and related areas in India and other Countries in Asia and Africa such as Iran, Indonesia, Philippines, Malaysia and South Africa. As a step forward, a Joint Evaluation Team of GAIL and ALPS is being formed which shall systematically undertake the evaluation / identification. In respect of identified project(s) for joint participation, GAIL and ALPS shall form consortia / SPV / JVs for implementing the projects.
The two companies will also jointly bid for projects in India and overseas where complimentary capabilities of either or both of GAIL / ALPS would be a significant advantage. In addition, the two companies will evaluate the feasibility of transporting large volumes of natural gas in the form of CNG to remote areas and from one country to other country.
About GAIL (India) Limited
GAIL, a natural gas major, is focused on all aspects of the gas value chain including Exploration and Production, Gas Marketing and Transmission, Gas Processing, LPG Production, Petrochemicals and telecom. The company has also extended its presence in power, LNG re-gasification, city gas distribution and E & P through Equity/JV participations. Under its globalization initiatives, GAIL has already taken equity participation in three retail gas companies in Egypt i.e Fayum Gas Company, NATGAS and Shell CNG, Egypt and acquired 10 per cent equity in China Gas Holdings in China. GAIL is pursuing business opportunities in countries like Egypt, China, Iran, Myanmar, Russia, Kazakhstan, Bangladesh, Turkey, and Romania in the areas of exploration and production, gas transmission, CNG and city gas distribution, LNG and petrochemicals. GAIL is also playing a key role in the area of Cross Border Pipelines in bringing Pipeline gas into India. GAIL has set up a wholly- owned subsidiary company viz GAIL Global (Singapore) Pte Ltd in Singapore.
About ALPSs
ALPS provides comprehensive project development services and entry strategies for companies both in India and abroad with special focus on South West Asian Countries and the Middle East. ALPS provides specialized services for undertaking pre-investment and project development which includes feasibility studies, appraisals, development of joint ventures, company formation and other professional services that are designated to deliver project opportunities from concept to commissioning. ALPS have a global presence with associates in Dubai, London, Geneva, Paris, New York, Tehran equipped to provide an infrastructure support and follow-up to other Indian companies to promote business in those countries