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Gail, HPL in product swap deal

New Delhi, April 16: Gail (India) Ltd and Haldia Petrochemicals Ltd (HPL) today formally signed a marketing pact that will enable the two companies to swap products for sale in geographical regions close to the respective production units.

The arrangement will help the two companies to slash transport costs, ensure quicker delivery and diversify their product range.

As part of the agreement, Gail will pick up 35,000 tonnes of HPL’s polypropylene for marketing it in the north and west. Gail does not produce any polypropylene so the swap will enable it to market a new product. HPL, in turn, will pick up 35,000 tonnes of pentane from Gail for use as an alternative fuel feedstock in its petrochemical unit.

Gail chairman and managing director Proshanto Banerjee said, “The alliance is aimed at achieving economies of scale and more efficient marketing and logistics management.”

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