rediff.com

Rediff News  All News 
  »  »  ADAG welcomes govt move to secure NTPC interests

ADAG welcomes govt move to secure NTPC interests

August 25, 2009 20:46 IST

Anil Ambani. ReutersAnil Ambani Group firm RNRL on Tuesday welcomed the government's move to protect NTPC's interest on sourcing gas from Reliance Industries [ Get Quote ], saying effective legal steps will defeat the Mukesh Ambani [ Images ] firm's 'malafide attempts to dishonour' its commitment.

Commenting on media reports on government preparing to file an interlocutory application, RNRL said in a statement that effective legal steps should be taken 'to enforce NTPC's contractual right to receive 12 mmscmd of gas from RIL for its Kawas and Gandhar projects at a fixed price of $2.34 per mmBtu for a period of 17 years.'

This, it said, would defeat 'RIL's malafide attempts to dishonour its binding legal commitments.'

A ministerial panel headed by Finance Minister Pranab Mukherjee [ Images ] on Tuesday decided to clarify through a petition before the apex court that the $4.20 per mmBtu price fixed for RIL's KG-D6 gas was without prejudice to the state-run firm's case seeking fuel from RIL at $2.34 per mmBtu price committed in 2004.

© Copyright 2012 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!