Country's largest state-owned natural gas processing and distribution company GAIL India in April this year has bagged a contract to lay the pipeline to connect the west and east coasts within time frame of 36 months. The pipeline would have a capacity to transport up to 60 million standard cubic metres of gas per day.
Confirming this news, a senior IOC official said, "Yes, we are in talks with GAIL to pick up stake in its Surat-Paradip pipeline."
Echoing for the same, a senior GAIL official said, "The 36-inch pipeline would cost over Rs 9,000 crore."
Recently, GAIL Chairman B C Tripathi had said that if IOC accepts GAIL's offer, it would contribute for its share. GAIL was investing USD 6 billion in creating natural gas infrastructure.