IGL plans to buy out JV partners

The sole city gas distributor in India’s capital city is looking to buy out its partners in two joint ventures as it seeks to expand beyond New Delhi and its suburbs.

Indraprastha Gas Ltd (IGL), which owns 50 percent in Central UP Gas Ltd and Maharashtra Natural Gas Ltd, plans to wholly own both the joint ventures, Managing Director E S Ranganathan said. Indraprastha Gas plans to buy out its partners in the joint ventures — state-run GAIL India Ltd and Bharat Petroleum Corp — to drive the company’s.....

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