Dabhol Power Project to Get New Lease of Life after PMO Steps In
Ratnagiri Gas and Power is all set to get a new lease of life after PMO (Prime Minister’s Office) stepped in to keep it afloat. The PMO has called a meeting of key stakeholders to resolve issues that are bothering the company, expedite the demerger of the LNG division and convince the Railways to enter into a power purchase agreement.
Nearly a decade after public sector companies and lenders revived the project, RGGPL, with Rs 8000 crore debt, is dealing with a host of issues and the move by the PMO is a blessing in disguise for the company.
The top agenda for the meeting to be held on March 4 will be to resolve the issue related to the power purchase agreement between RGGPL and the Railways.
In order to make the power more viable, the PMO may also ask the government of Maharashtra to waive off state-wise transmission charges and transmission losses as well as waive off the tax on the gas to the project.
Though, lenders have approved the plan for the demerger of the LNG regasification unit from the power unit but, there are quite a few issues raised by LIC and Power Finance Corporation which need to be sorted out.
In continuing trouble for the organisers and participants of the AIB Knockout show which raised the hackles of moral brigade, Read more
MUMBAI: The Maharashtra government has decided to disinvest its assets in seven loss-making Public Sector Enterprises (PSEs) in the state. Read more
NEW DELHI: The government has approved 10% stake sale in Coal India and initial public offer of Cochin Shipyard, restarting Read more
The Enforcement Directorate has issued summons to Himachal Pradesh chief minister Virbhadra Singh in connection with its probe against him Read more
