Friday, April 6, 2007

NTPC & GAIL after LNG gas terminal of Dabhol

NTPC eyes LNG gas terminal of Dabhol

New Delhi, April 06: National Thermal Power Corporation (NTPC) today said it was keen to acquire the five million tonne LNG terminal of the 2,150 MW Dabhol power plant at Ratnagiri in Maharashtra and was ready to put in Rs 500 crore in the project that has yet to take off.

Our board has cleared the infusion of Rs 500 crore into RGPPL...We will do so as and when the government expects us to do that, Chandan Roy, Director (Operations) of NTPC said here.

NTPC was keen to acquire the 5 million tonne liquefied natural gas (LNG) terminal linked with the 2,150 mw Dabhol power plant.

The corporation's move comes after another RGPPL promoter Gail (India) said last month it was also willing to infuse Rs 500 crore into RGPPL provided it was given the LNG terminal.

Both NTPC and Gail had put in Rs 500 crore into RGPPL to acquire 28.33 per cent each at the time of taking over Dabhol assets. Maharashtra state electricity board and IDBI-led lenders control the remaining equity stake in RGPPL.

The empowered Group of Ministers on Dabhol was exploring the options of infusing additional money into RGPPL, so as to complete the revival process of the power plant and LNG terminal.

Already, the revival cost has shot up to Rs 12,600 crore from Rs 10,300 crore estimated earlier.

Bureau Report

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