Press Releases

[New Delhi, February 15, 2005]

GAIL Signs MoU with SPECTRA International, Bangladesh

• To Develop CNG Infrastructure & Gas Retail Markets in Bangladesh
  
  (Sl. No. ND/CC/05/09)

  GAIL (India) Ltd. today signed a Memorandum of Understanding (MoU) with SPECTRA International Limited, Bangladesh to identify possibilities of joint co-operation in CNG Infrastructure Development projects and Gas Retail Markets in Bangladesh. The MoU was signed on the sidelines of the 3rd Asia Gas Buyers’ Summit, by Mr. B S Negi, Director (Planning), GAIL and Mr. Khalid H Khan, SPECTRA. Mr. Proshanto Banerjee, Chairman and Managing Director, GAIL was also present on the occasion.

  As part of this MoU, GAIL will consider undertaking CNG and gas distribution projects on Build Own Operate and Transfer (BOOT) basis as offered by Government of Bangladesh / authorized agency in Bangaldesh. SPECTRA will offer certain services required in the implementation of projects in cost effective and timely manner and provide necessary support and coordination in obtaining all the statutory clearances required for such projects.

  GAIL and SPECTRA will jointly identify opportunities for setting up gas sector training facilities in Bangladesh. SPECTRA will develop business opportunities involving GAIL’s expertise in CNG, Gas Distribution and Marketing to private and public sector companies in Bangladesh. GAIL and SPECTRA will also offer consultancy services to Petrbangla & its subsidiaries and other companies on Design development, Operation and maintenance and feasibility studies for CNG, Gas distribution and marketing projects in Bangladesh.

  About SPECTRA International, Bangladesh

  SPECTRA is a leading company of Bangladesh engaged in civil construction & real estate, logistic support services, hospital engineering & healthcare, support services and liaison works to the foreign companies in Bangladesh.