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State-owned oil marketing company Indian Oil Corporation will acquire up to 50 per cent stake in GSPL LNG Ltd for ₹750 crore.
GSPL LNG, a 50:50 joint venture between Gujarat State Petroleum Corporation and Adani Enterprises, is setting up a five million tonnes per annum (mtpa) LNG terminal at Mundra Port in Gujarat.
IOC said the terminal would be commissioned in the fourth quarter of financial year 2017-18. Shares of both IOC and Adani Enterprises will remain in focus.
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