(ET)
India has started work on restructuring state-owned companies and on the immediate agenda is the bifurcation of GAIL (India) into marketing and transportation units — one of them to be sold — and a three-way merger of power generation companies NTPC, SJVN and NHPC.
“We are looking at various combinations,” said a finance ministry official aware of developments. Indian Oil Corporation, the state-owned refiner, had evinced interest in natural gas processing and distribution company GAIL last year, and may be a potential buyer, the official said. IOC is the second-biggest gas marketer in India, after GAIL.
