New Delhi: Canadian investor Brookfield has acquired the loss-making East-West Pipeline Ltd from Mukesh Ambani’s Reliance Industries Ltd (RIL) for Rs 13,000 crore.
The East-West Pipeline Ltd, earlier known as Reliance Gas Transportation Infrastructure Ltd, runs a 1,400-km pipeline which starts from Kakinada in Andhra Pradesh and ends at Bharuch in Gujarat. The pipeline is used to transport natural gas discovered by Reliance Industries Lts in KG basin block.
The company is selling the pipeline infrastructure as it is operating at just 5 per cent of its capacity, consequent to RIL’s production from its KG D6 block sharply dropping over the years. The pipeline was constructed to carry 80 million standard cubic metres of gas per day (MMSCMD). (IANS)
Also Read: Business News