GAIL wants bids for LNG shipbuilding.

In a first such tender for promoting the construction in this country of ships to carry liquefied natural gas (LNG), GAIL India has called for bids. It wants applications from companies holding a minimum 25 per cent equity for seven years in three such operational vessels.

Currently, there are no Indian shipyards that have been involved in the construction of LNG carriers. Those which bid would need a contractual agreement with a shipyard abroad which has constructed and delivered at least one LNG vessel with a capacity of at least 135,000 cubic metes in the preceding 10 years. The vessel must have been in service for at least one year prior to the bid. There are also various technical requirements for the Indian shipyards involved.

BS