<div data-style="color: #444444; font-family: "Segoe UI", Verdana, Helvetica, sans-serif; font-size: 14px; background-color: #ffffff;">State-owned refiner Indian Oil Corporation (IOC) and gas utility GAIL India Ltd on Wednesday signed pacts to take 49 per cent stake in Adani Group’s Rs 6,000-crore Dhamra LNG project in Odisha. IOC will initially take 39 per cent and GAIL another 11 per cent equity in <g data-gr-id="86">Dhamra</g> LNG Terminal Pvt Ltd and the remaining 50 per cent will be with Adani Group.
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<div data-style="color: #444444; font-family: "Segoe UI", Verdana, Helvetica, sans-serif; font-size: 14px; background-color: #ffffff;">“Going forward, IOC and Adani Group will each divest 1 per cent of their respective stake to a credible <g data-gr-id="89">financialinstituion</g> which will then have 2 <g data-gr-id="90">per cent</g> stake in the terminal,” IOC Chairman B Ashok said at the MoU signing ceremony. The 5-million tonne a year liquefied natural gas (LNG) import terminal is targeted to be built by 2020.
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