Ratnagiri Gas and Power Pvt Ltd, the joint venture of state-run GAIL India and NTPC Ltd which owns the 2,150-MW power plant and the adjoining LNG import terminal, plans an IPO to raise Rs 1,000 crore (Rs 10 billion), company Chairman R K Goel told reporters in New Delhi. The Dabhol plant will be fully operational by next month when the third generating unit is commissioned, he said adding that currently, two units were generating about 1,100 MW electricity.
Delhi's power problems could go for a toss if Gas Sales Agreement that GAIL (India) Limited has inked with Pragati Power Corporation Limited to supply 2 MMSCMD of R-LNG becomes operational. The peak demand for electricity in Delhi is slated to grow from the current 4100 MW to 5630 MW in 2010 as per the estimation of Central Electricity Authority.
Steel tycoon Lakshmi N Mittal's acquisition of 49 per cent stake in Hindustan Petroleum Corp's $3 billion Bhatinda refinery has violated his pact with Oil and Natural Gas Corp
Finance Ministry has written to the Power Ministry asking to freeze the completion costs of Dabhol plant.
New recast plan calls for more loan rate cuts and lower equity returns.
Many stalled projects are about to get going again, providing potential relief to banks, says T N Ninan.
"I think very soon. We are doing very well. (US Trade Representative) Robert Lighthizer who is right here negotiating with India... I think, very soon we will have a trade deal," Trump told reporters when asked if there is any trade deal is expected between India and the US.
GAIL (India) Ltd has agreed to infuse an additional Rs 500 crore (Rs 5 billion) into Ratnagiri Gas and Power Pvt Ltd to enable the owner of the beleaguered Dabhol plant to clear pending dues of contractors.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
The first stretch of Dahej-Panvel-Dabhol pipeline, which will feed natural gas to the beleaguered Dabhol power project in Maharashtra, has been commissioned.
The plant will start functioning to its fullest by the end of January 2008, after delay of one-month from previous schedule.
The agreement on pricing last month marks a significant step towards promoting energy security in the region, say Nisha Taneja & Samridhi Bimal.
A joint venture agreement between GAIL (India) Limited and China Gas Holdings Limited to foray into natural gas
The government on Friday gave its nod to ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corp, to acquire Royal Dutch/Shell's 33 per cent stake in a deepsea gas field off Egypt.
Before the MCC came into effect, Modi was busy laying stones, cutting ribbons, and unveiling plaques across the country.
The Rs 3,200-crore (Rs 32 billion) Hazira LNG Pvt Ltd is expecting to land itself long term gas supply contracts to various domestic fertiliser and power producers, including the Dabhol project, by the end of this year.
The Ratnagiri Gas and Power Pvt Ltd is likely to get gas for power production by June-end, GAIL (India) chairman UB Choubey said.
Maharashtra on Monday said the LNG pipeline for supplying gas to the beleaguered Ratnagiri (erstwhile Dabhol) power plant would be completed by April this year after which the cost of power would work out to be Rs 3 per unit.
Maharashtra Chief Minister Vilasrao Deshmukh met Petroleum Minister Murli Deora Wednesday to request for alternative sources of gas for the state's Ratnagiri plant.
The pipeline deal could be signed by this yearend.
Indications emerged on Friday on the possibility of India and Iran reviving an LNG deal struck last year, with Tehran offering a new price and New Delhi saying it was willing to raise its offer slightly.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The government's clarification came following reports that Iran has conveyed that the $21-billion deal to supply LNG was off following India voting in favour of the IAEA resolution.
Ratnagiri Gas and Power Pvt Ltd, the new owner of the Dabhol power project,
ONGC Videsh Ltd, the overseas arm of the Oil and Natural Gas Corporation, has proposed to buy the entire gas production from Sakhalin-I field in Russia and import the same in the form of LNG to India.
Petroleum Minister Murli Deora is seeking to give a big push to domestic oil and gas hunt through a slew of fiscal incentives including infrastructure status to exploration and production business and exemption from service tax.
RIL has proposed to charge the government- fixed rate for natural gas on a gross calorific value (GCV) basis, instead of net calorific value (NCV).
Electricity from Dabhol project in Maharasthra, which is being targeted to restart from July 2006, may cost over Rs 3 a unit as LNG suppliers quote twice the price of gas than the previous estimates.
The government on Saturday gave its approval to Shipping Corporation of India's plan to invest $20.88 million for 33.77 per cent stake in a joint venture company to be set up in Panama.
A government missive to Petronet LNG Ltd on appointment of the company's new managing director and chief executive officer may trigger Securities and Exchange Board of India's takeover code
The power and fertiliser companies should be prepared to pay higher prices of natural gas as the petroleum ministry favours economic pricing of the fuel, an official said on Thursday.
The special purpose vehicle floated by GAIL(India) Ltd and National Thermal Power Corporation to revive the 2,184 MW Dabhol power plant has been named 'Ratnagiri Gas and Power Pvt Ltd'.
State-run gas firm GAIL (India) Ltd on Wednesday said it was talking to the Indian lenders of the Dabhol Power Company to takeover the 2,184 MW power plant and the adjoining LNG import facility in Maharashtra.
With its investor-friendly policies, Gujarat, the state with largest refining capacity, pipeline network and a number of oil and gas discoveries, will soon become the energy hub of the country, Chief Minister Narendra Modi said on Friday.
State-run Gas Authority of India Ltd on Monday said the government's decision to raise natural gas prices by 12 per cent would not affect its profitability.
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