GAIL, OIL India to bid for RIL's gas transport business

15 May 2012

Eleven firms including state-owned gas utility GAIL (India) and OIL India are interested in acquiring a stake in Mukesh Ambani-owned Reliance Gas Transportation Infrastructure (RGTIL).

"There are five Indian and six foreign companies, which have submitted expression of interest (EoI) for buying a stake in the gas transportation company," a source privy to the development told Press Trust of India.  

GAIL and OIL have submitted separate EoIs for the stake buy, which is being managed by J P Morgan, Citi and SBI Caps, said the news agency.

Other interested firms could include Calgary, Alberta based energy company Enbridge Inc.

Since July 2011, Mukesh Ambani, India's richest person has been looking to sell RGTIL, a company that builds pipelines to carry natural gas across the India.

RGTIL operates a 1,396-km East-West gas pipeline from the landfall hub of Kakinada in Andhra Pradesh to Bharuch in Gujarat on the west coast with various connections along the way.