Indian Oil not taking up stake in Mundra LNG Terminal

GSPC and Adani hold a 75% stake in the Mundra LNG terminal. Indian Oil was expected to be the next strategic partner who would hold 25% of the stake. Yesterday (26 Dec 2018) Indian Oil announced that it is withdrawing itself from the project and is not going to buy in the stake. More than 40 LNG terminals are expected across the country in a bid to reduce oil dependency. LNG could also be a cheaper alternative as a few people say. 

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