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Brookfield to buy Reliance’s Pipeline Infra for `13,000 cr

DNMUM433444 | 3/15/2019 | Author : DNA Money Correspondent | WC :179

Mumbai: Brookfield has announced it will acquire Pipeline Infrastructure Pvt Ltd (PIPL), a Reliance Industries entity, for Rs 13,000 crore through its India Infrastructure Trust (InvIT).
Following the deal, the existing pipeline usage agreement has been reworked with the reserved capacity being reduced to 33 million metric standard cubic metre per day (mmscmd) against the existing 56 mmscmd. Further, any unutilised capacity payment by RIL will be the difference between Rs 500 crore a quarter and actual revenue earned by PIPL, a Brookfield statement said.
As per the deal, Reliance Industries will continue to be entitled to transport gas, either by itself or of any customers, free of cost against any outstanding unutilised capacity p
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