Gujarat Maritime Board to acquire about 40 per cent stake in Mundra LNG terminal

The Gujarat Maritime Board (GMB) has decided to acquire around 40 per cent equity stake in the Mundra liquefied natural gas (LNG) terminal, likely to be commissioned by July 2019, at an investment of Rs 5 billion.The project is being implemented through a special purpose vehicle (SPV) – Gujarat State Petroleum Corporation [GSPC] LNG Limited. As per the proposal, GSPC holds an equity stake of 50 per cent along with Adani Infra (India) Limited that holds a 25 per cent stake. The remaining stake will be held by a strategic investor.