ONGC in talks with HPCL to buy stake in Mundra-Delhi pipeline

According to sources, HPCL has offered ONGC a 26% equity in the pipeline project.

The project, which is proposed to be financed in a 1:1 debt-equity ratio, would be commissioned in 36 months and would have tap-off points at Palanpur, Ajmer, Jaipur, Rewari and Delhi (Bahadurgarh). When contacted, HPCL officials did not comment on the move. The 1,008-km long pipeline will have 25% excess capacity that will be leased to other firms interested in moving their petroleum products to western India to high-consumption centres in the north. The pipeline will have a capacity of transporting 5.3m. tons of products a year.

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