Key Developments: GAIL (India) Ltd (GAIL.BO)
Latest Key Developments (Source: Significant Developments)
GAIL (India) Ltd's subsidiary joins hands with UPSIDC to expand natural gas downstream distribution network
GAIL (India) Ltd:GAIL Gas Limited, wholly owned subsidiary of GAIL (India) Limited and Uttar Pradesh State Industrial Development Corporation (UPSIDC) signed memorandum of understanding (MoU) at New Delhi to expand the Natural Gas downstream distribution network in the state of Uttar Pradesh.MoU was signed by Shri Pankaj Kumar Pal, Chief Executive Officer, GAIL Gas Limited and Shri Manoj Singh, Managing Director.This MoU will lay foundation for building up natural gas infrastructure for fulfilling the demand of Natural Gas, setting up CNG stations along the highway corridor and distribution of gas to various industrial clusters and parks in Uttar Pradesh.Says investment envisaged for developing this CGD project is about 1.4 bln Indian rupees.In order to cater to the demand of Natural gas to Industrial Clusters in Uttar Pradesh natural gas distribution is proposed through mobile cascades.It will cover areas like Shamli, Gajraula, Saharanpur, Kosi, Sikandra, Etawah, Fatehpur Sikri, Vrindavan and Govardhan. Full Article
GAIL (India) Ltd:Recommends payment of final dividend at 59 pct (5.9 Indian rupees per share) on the paid-up equity share capital of the Company for the FY 2013-14, subject to approval of shareholders in the ensuing Annual General Meeting. Full Article
GAIL (India) Ltd:Executes MoU with Chubu Electric Power Co. Inc, Japan for joint LNG procurement.Under MoU, GAIL and Chubu shall mainly explore possibilities for collaboration in area of joint LNG procurement.Besides, two companies seek to collaborate on shipping optimization. Full Article
GAIL (India) Ltd:Approves payment of interim dividend for the financial year 2013-14 at 45 pct ( 4.50 Indian Rupee per equity share) on the paid up equity share capital of the company.Says interim dividend shall be paid within stipulated time period of 30 days i.e. latest by Mar. 06. Full Article
NEW DELHI State-run GAIL (India) Ltd has launched two tenders for up to 17 cargoes of liquefied natural gas (LNG) for delivery in western India, two trade sources said.