Indian Oil Corporation Limited and GAIL (India) Limited signed an MoU with Dhamra LNG Terminal Private Limited (DLTPL) for equity in the 5 MMTPA capacity LNG receiving, storage and re-gasification terminal being set up at Dhamra Port, Odisha.
As per the MoU, DLTPL will be an equal joint venture of Indian Oil and GAIL on one hand and the Adani Group on the other.
Indian Oil and GAIL would acquire 39 per cent and 11 per cent equity respectively in DLTPL, with the balance 50 per cent being held by the Adani Group.
Going forward, Indian Oil and Adani Group will each divest 1 per cent of their respective stakes to a credible financial institution which will then have 2 per cent stake in the terminal.
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