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GAIL to infuse Rs 475 cr more in Dabhol project
Our Bureau
New Delhi, Aug. 22
GAIL (India) Ltd will infuse an additional Rs 475 crore in Ratnagiri Gas and Power Pvt Ltd (RGPPL), the erstwhile Dabhol project, to help complete the project.
RGPPL needs Rs 1,200 crore to complete the project. GAIL board, which met on Tuesday, approved the proposal to infuse additional funds in the project.
Generating Power
Currently, GAIL holds 28.33 per cent in the project. Apart from GAIL the other stakeholders NTPC and MSEB were also asked by the Government to infuse additional funds in proportion to their equity structure in the project.
NTPC, which also holds 28.33 per cent stake in RGPPL, will invest Rs 475 crore, while Maharashtra State Electricity Board (MSEB), having 15 per cent stake, would put in Rs 250 crore. The project has under it a 2,150 MW power plant as well as 5 million tonne (mt) per annum liquefied natural gas (LNG) terminal and re-gassification facility.
RGPPL needs 2.1 mt of LNG per annum for generating power, leaving 2.9 mt of LNG for sale to other users. RGPPL switched from naphtha to LNG for power block-II (740 MW) on August 4 after a GAIL pipeline supplied re-gassified LNG, imported by Petronet LNG Ltd, at Dahej in Gujarat.
Related Stories:
Ratnagiri may start power generation using gas as feedstock by mid-Aug
GAIL to complete Dahej-Uran-Dabhol pipeline by June 30
GAIL may infuse more funds in Dabhol project
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