Reliance Natural Resources Limited (RNRL) has informed to the NSE and BSE that: “The rumours of an imminent out-of-court settlement with RIL on our gas supply dispute are completely baseless and speculative”.
The above clarification follows a rumour in the Indian capital markets yesterday and today that some sort of out of court settlement is being worked out between Anil Ambani (RNRL) and Mukesh Ambani (RIL).
It is to be informed that recently certain issues relating to NTPC’s gas supply contract with RIL (Reliance Industries Ltd) have been raised in the media. In this connection, NTPC would like to inform you the following:
1. NTPC is a customer-focused power utility and it very well understands the impact of fuel price in the overall cost of electricity and always makes efforts to source fuel at competitive price. NTPC had planned to add 2600 MW capacity at its existing gas power plants at Kawas and Gandhar during the 10th Plan (2002-2007). As per NTPC’s investment policy, approval of the Board is accorded when availability of fuel is ensured for the life of the plant. Accordingly, NTPC invited International Competitive Bids (ICB) through RFQ and RFP process for sourcing RLNG / Natural Gas in the year 2002. Continue reading NTPC Clarifies Issues Related to Gas Supply Contract with RIL