 "IOC, oil company, Indian Oil Corporation")
The government is likely to carve out a separate gas transportation company that will hold the existing natural gas pipelines of both GAIL India and Indian Oil Corporation (IOC). The newly formed company will be a fully-owned subsidiary of GAIL.
The Ministry of Petroleum and Natural Gas has already floated a Cabinet note for inter-ministerial consultation on the creation of a new gas transmission operator. “According to the plan, GAIL will have to pay the book value for the existing natural gas pipelines of IOC. This will be integrated with the newly formed subsidiary,” said an official, who is close
