subject: India's Ongc And Hinduja Group To Invest $10 Billion In Iranian Gas Field Lng Project [print this page] Researched by Industrial Info Resources (Sugar Land, Texas) - Iran's deputy oil minister and the Managing Director of the National Iranian Oil Company (NIOC) (Tehran, Iran), Seifollah Jashnsaz, has announced that India's state-run oil exploration and production company Oil & Natural Gas Corporation Limited (ONGC) (New Delhi) and partners will invest about $10 billion in a liquefied natural gas (LNG) project and two massive gas field development projects in Iran.
The consortium includes project development company Ashok Leyland Projects Services Limited (Chennai, Tamil Nadu), which is a member company of the Hinduja Group (London, England), and ONGC Videsh Limited (OVL) (New Delhi), the overseas arm of ONGC. In exchange for the investment, India will procure 6 million tons per year of LNG from Iran on a long-term basis to meet its rapidly increasing energy requirements.
About Hinduja Group:
The Hinduja Group is one of the largest diversified groups in the world. The Hinduja Family contributes to old economy sectors such as Banking, Finance, Transport, and new economy of Technology, Media and Telecom in India.
The Group has expanded and diversified its businesses, with significant social and charitable contributions, under the present leadership of Chairman, Srichand, ably supported by his brothers, Gopichand, Prakash and Ashok.
Today, the Hinduja Group has become one of the largest diversified groups in the world spanning all the continents. The Group employs over 40,000 people and has offices in many key cities of the world and all the major cities in India.
The Hinduja Family has always adapted to free-market reforms moving quickly in new markets that have opened, and capitalising on new economy opportunities. As a result, the Hinduja Group has now strategically positioned itself to contribute to old economy sectors such as Banking & Finance, Transport, Energy (Oil & Power) as well as the new economy of Technology, Media and Telecom.
by: monika
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