[T.S.R:16109] GSPL Bags 2 Gas Pipelines

Gujarat government-owned company, Gujarat State Petronet Ltd (GSPL) is now fully ready to expand its gas network in the eastern and northern part of the country.   After bagging 1,600 km-long Mallavaram - Bhilwara pipeline contract, the consortium of GSPL, IOC, HPCL and BPCL has won another contract of 1,670 km-long gas pipeline from west to north - Mehsana to Bhatinda, for Rs 6,000 crore. With both these contracts, the gas grid of GSPL will increase from present 1,666 km to around 5,000 km.   With this, GSPL will have gas grid from Andhra Pradesh to Gujarat and from Gujarat to Punjab. In both gas pipeline contracts of Mallavaram - Bhilwara and Mehsana - Bhatinda, GSPL has 52% stake, IOC 26% and HPCL and BPCL have 11% each.   "With investment of more than Rs12,000 crore, in partnership with other PSU companies, Gujarat government's company will expand its gas grid outside Gujarat for first time. Two days back, we successfully bagged Mallavaram - Bhilwara gas pipeline contract and on Wednesday, we won Mehsana - Bhatinda gas pipeline contract. Now, our gas grid will be expanded from west to east and west to north in the country," Saurabh Patel, minister of state for energy and petrochemicals, said.   GSPL expected availability of natural gas for the proposed pipeline will be about 15-20 mmscmd as per the proposal submitted in 2009. Company says that initial estimates suggest that the demand, en-route the pipeline will be about 20 mmscmd.   The Mehsana - Bhatinda pipeline will pass through cement, textile and metal plants, including JK Cement, Binani Cement, Gujarat Ambuja Cement, Hindustan Zinc and Hindustan Copper plants in Rajasthan.   The proposed pipeline would also help develop city gas distribution network and CNG corridor in regions along the pipeline route.   Talking about the funds, Patel said that the project has been bagged by a consortium, so each partner will contribute in it. "Simultaneously, we are constructing LNG terminal at Mundra, from wherein we will import natural gas.   Using the gas grid of the country, we will be able to supply the imported gas to the northern parts and eastern parts of the country," he said. According to sources, in the bidding process invited by Petroleum & Natural Gas Regulatory Board (PNGRB), the GSPL consortium was the lowest bidder for the 1,600 km long pipeline project between Mallavaram and Bhilwara and for the 1,670km Mehsana-Bhatinda gas pipeline. Safe Harbor Statement: Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.   Nothing in this article is, or should be construed as, investment advice.

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