Within the frames of the official visit of the President of Russia to India, the management of the Companies OAO Stroytransgaz and Essar Group carried out negotiations on the prospect of further cooperation.
Sunday, December 05, 2004
Within the frames of the official visit of the President of Russia to India, the management of the Companies OAO Stroytransgaz and Essar Group carried out negotiations on the prospect of further cooperation.
The Parties expressed deep respect to each other as partners in realization of projects in oil and gas industry and considered a possibility of Stroytransgaz participation in construction of the Central Indian Pipeline with length of about 1600 km.
Taking into account multifold activities of Companies, OAO Stroytransgaz and Essar Group also expressed mutual interest in realization of joint investment projects.
Information
Essar Group is one of the largest private corporations of India.
The Group’s interests include production of steel; prospecting, production and processing of gas and oil; sea transport; power engineering; telecommunications; construction of roads, pipelines, sea ports.
In oil and gas industry the Group is represented by Essar Oil Ltd. that is carrying out several projects on prospecting and production of oil in the State of Rajasthan and in the south region of the Gulf of Bombay, and also a project for production of gas from coal-beds in the State of Gujarat.
Besides that, Essar Oil Ltd. is completing construction in Vadinar of petroleum refining complex, one of the largest in India. The refining capacity will be 12.5 million tons per year. Total capital investments are evaluated at US$ 2 140 million.
In its international activity Essar Oil Ltd. is one of largest contractors for drilling operations in the Near East.
