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June 8, 2001 		Feedback  
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GAIL to hold stake in power plant

State-run Gas Authority of India Ltd, India's largest distributor of natural gas, has signed an agreement with Gujarat State Energy Generation Ltd to set up a 156.1 MW power project in western India.

GESG is a firm promoted by Gujarat State Petroleum Corporation, which recently teamed up with GAIL and other state-run oil companies to successfully bid for an oil exploration block.

"With this, GAIL and GSPC have entered into a strategic partnership in yet another sector of the energy value chain," a statement from GAIL said on Friday.

GAIL will hold 12 per cent equity in the gas-based plant being set up at Hazira in the Gujarat state, it said.

Other shareholders in the power plant are Krishak Bharati Cooperative Co, Gurajat Electricity Board, Gujarat Industrial and Investment Corporation, Gujarat Power Co LTD and Gujarat Industries Power Co Ltd.

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