Mumbai, July, 7 (EPC News): A non-controlling stake in Mukesh Ambani led Reliance Gas Transportation Infrastructure Ltd (RGTIL) to be put for sale. The company is already in talks with international bankers for the stake sale valuing about $1 billion. The recent move adopted by the company floats during a situation when the government poises to approve BP’s $7.2 billion deal to buy stakes from 23 oil and gas blocks of Reliance Industries.
Reliance had already set plans with oil major BP for setting up a joint venture company for sourcing and marketing gas. The company also plans to build two pipeline projects to transport gas from the Krishna Godavari basin to a various industrial areas in southern India.
EPC News Bureau
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epcworld
| Posted on:7/7/2011 at 9:13 AM