The Prime Minister’s Office (PMO) has stepped in to keep afloat Ratnagiri Gas and Power, the second avatar of the jinxed Dabhol power project. It has called a meeting of key stakeholders to resolve issues plaguing the company, convince the Railways to enter into a power purchase agreement, and expedite the demerger of the LNG division.
Almost a decade after lenders and public sector companies revived the troubled project, RGGPL, with about Rs.8,000-crore debt, is dealing with a string of issues and PMO’s move can be a shot in the arm.
On top of the agenda for the meeting that is scheduled to take place on March 4 is to resolve the issue relating to the power purchase agreement between the railways and the RGGPL which has seen a stalemate due to disagreement over pricing. Read More…
Credit By: economictimes.indiatimes.com
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