Business Standard: GAIL Re-floats $7 bn Tender to Hire LNG Ships

State gas utility GAIL India has re-invited bids to hire nine newly-built LNG ships on modified terms that allow Indian shipyards to pick up to 13 per cent stake in three of these carriers that shipbuilders have to make in the country.

After postponing the deadline thrice, GAIL had in February scrapped the $7 billion tender to hire nine LNG carriers to ferry gas from the US, with a caveat that three of them be made in India. At that time no foreign shipyard was willing to share LNG shipbuilding technology.

Negotiations that followed saw Korean shipbuilders Samsung Heavy Industries, Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering agreeing to cooperate with Cochin Shipyard, L&T Shipbuilding and Pipapav Shipyard respectively. MORE