Assam Company signs MOU with GSPC

Assam Company Ltd has announced that the Company has signed a Memorandum of Understanding (MOU) with Gujarat State Petroleum Corporation Ltd (GSPC) tor development of SEZ (Special Economic Zone) Hydrocarbon Park. The salient features of the MOU are as follows:

1. The estimated project cost would be about Rs 2,000 Crores.

2. SEZ to be made operational by January 2010.

3. The said Joint Venture would be through SPV (Special Purpose Vehicle) route.

4. GSPC shall be entitled to nominate the Chairman of the Board of SPV.

5. Joint Working Group to be formed and both the parties would nominate two members each to the Joint Working Group.

Source : Equity Bulls

Keywords