'Due diligence' of Paradip-Rourkela pipeline

Vol 4, PW 17 (27 Sep 00) News in Brief

In two weeks we should know who has been selected to undertake 'due diligence' of a proposed 418-kmproduct pipeline from Paradip to Rourkela in Orissa.

State Bank of India (SBI Caps), Infrastructure Development Finance Corporation (IDFC), Industrial Development Bank of India (IDBI) and Industrial Credit and Infrastructure Corporation of India (ICICI) have been shortlisted for the project, designed to ship products from Indian Oil's proposed 9m t/y refinery from Paradip through Talcher and Jatni to Rourkela. A source reveals ICICI is 'favourite' to win as it has past due diligence experience of three other Petronet-India pipelines.