IndianOil signs pact with Pragati Power
Mumbai   10-Oct-2007
IndianOil has signed an agreement with Pragati Power Corporation Limited {PPCL) here for the supply of Re-gassified Liquefied Natural Gas (R-LNG) for its 1,500 MW power plant being set up at Bawana, Delhi. The agreement was ' signed by B.M.Bansal, Director (Planning & Business Development), -, IndianOil, and Vipin Kumar, Director (Technical), PPCL, in the presence of Sheila Dikshit, Chief Minister of Delhi; Dr. A.K.Walia, Minister for Power, Government of Delhi; R. Narayanaswami, Chief Secretary; Rakesh Mehta, Secretary (Power); Sarthak Behuria, Chairman, IndianOil, and several State Government and oil sector officials. IndianOil will supply one-third quantity of the power plant's total R-LNG requirement of 1.65 million tones per annum. It will source the gas from its joint venture company, Petronet LNG Ltd., and transport it through the gas pipelines of GAIL (India) Ltd. The supplies shall start from October 2009 for a contract period of 15 years.