Ratnagiri Gas & Power Pvt., which supplies electricity to the western Indian state of Maharashtra, agreed to buy natural gas from an offshore field operated by Reliance Industries Ltd.
Ratnagiri was one of the power and fertilizer companies designated by the government as a priority customer after the Bombay High Court temporarily lifted a ban on the sale of gas from the Reliance field. NTPC Ltd., part-owner of Ratnagiri, and Reliance Natural Resources Ltd. are involved in price-dispute cases with Reliance Industries.
Reliance’s gas supplies will help this plant increase its output and will help boost revenues for promoters NTPC and GAIL India Ltd.
Ratnagiri’s board agreed to buy an initial 2.8 million cubic meters of gas a day from Reliance for the 2,144-megawatt power plant. The quantity may be increased to as much as 8.5 million cubic meters a day by October.
Ratnagiri was one of the power and fertilizer companies designated by the government as a priority customer after the Bombay High Court temporarily lifted a ban on the sale of gas from the Reliance field. NTPC Ltd., part-owner of Ratnagiri, and Reliance Natural Resources Ltd. are involved in price-dispute cases with Reliance Industries.
Reliance’s gas supplies will help this plant increase its output and will help boost revenues for promoters NTPC and GAIL India Ltd.
Ratnagiri’s board agreed to buy an initial 2.8 million cubic meters of gas a day from Reliance for the 2,144-megawatt power plant. The quantity may be increased to as much as 8.5 million cubic meters a day by October.
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