New Delhi: The Government is likely to decide next week on selling the LNG terminal linked with the Dabhol project.
Three existing stakeholders NTPC, GAIL and Maharashtra government are keen on taking over the asset.
The Empowered Group of Ministers (EGoM) on the Dabhol project is likely to meet on April 11 to take a decision on whether to hive off the liquefied natural gas terminal and sell it to bridge the fund deficit for completion of the project.
Both NTPC and GAIL have secured the approval of their respective Boards for infusing Rs 500 crore into the cash-starved company provided they get the first right to buy the five million tonnes LNG terminal.
"Our board has cleared the infusion of Rs 500 crore into RGPPL. We will do so as and when the government expects us to do that," PTI quoted NTPC Director (Operations) Chandan Roy as saying.
Roy said NTPC was keen to acquire the LNG terminal linked with the 2,150 MW Dabhol power plant.
Gail Board had earlier this week approved additional fund infusion as RGPPL faced payment default to the tune of Rs 500 crore to its contractors working to complete the LNG terminal.
"Earlier it was said that Gail after infusing the additional Rs 500 crore will get the right to match the highest bid when the terminal is auctioned. But both NTPC and Maharashtra government have also been now given the same right if they inject the additional money," Roy added.
The EGoM, headed by External Affairs Minister Pranab Mukherjee, will take a call on whose money should RGPPL use, Roy said, adding the state government has also indicated it would sign a Power Purchase Agreement before the EGoM meeting.
(With agency inputs)
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