GAIL-Vadodara JV wants consultant

Vol 13, PW 13 (03 Dec 09) News in Brief

GAIL and the Vadodara Municipal Corporation (VMC) want to hire a financial consultant who can analyse the final business plan of their proposed Vadodara city gas business joint venture.

“This consultant will also have to evaluate VMC and GAIL’s present assets in Vadodara,â€‌ we learn from a GAIL source, “which will eventually be transferred to the JV.â€‌ He adds that VMC and GAIL have decided against a fresh Detailed Feasibility Report (DFR) on the JV.

“VMC has undertaken its own DFR,â€‌ we are told, “and GAIL has also done a DFR. So there is no need for a fresh DFR right now.

â€‌ At a November 16 meeting of the Steering Committee for the JV, made up of GAIL and VMC representatives, both companies decided to merge their DFRs and come up with a final business plan. Towards this end a yet-to-be appointed sub-committee will hire the necessary financial consultant shortly, and the evaluation of assets should take four months after that.