Non-payment of Dabhol project dues worries banks
16/01/2015 12:22
Bankers have expressed concern over the non-payment of dues from Dabhol power project in Maharashtra with the plant being shut since October 2013 on account of severe gas shortage, said the media report.
According to the reports, Banks have an exposure of Rs 8,500 crore in Dabhol power project, also known as Ratnagiri Gas and Power Private Ltd (RGPPL). The project has been facing difficulty due to non-availability of gas and dues to banks are not being paid by the company on time.
According to sources, bankers have raised concerns over non-payment of dues and want Finance Ministry to allow conversion of their debt into equity as a short term measure.
As part of the long term strategy, the government may use LNG and gas pooling. In the proposed gas pooling, state-run GAIL will ensure availability of LNG to RGPPL at USD 10 per unit, starting this month.
According to a report, the government is likely to hold a meeting of all stake-holders to resolve the issue of non-payment of dues from the crippled Dabhol Power Project which has been closed for a long time due to fuel shortage.
16/01/2015 12:22
Bankers have expressed concern over the non-payment of dues from Dabhol power project in Maharashtra with the plant being shut since October 2013 on account of severe gas shortage, said the media report.
According to the reports, Banks have an exposure of Rs 8,500 crore in Dabhol power project, also known as Ratnagiri Gas and Power Private Ltd (RGPPL). The project has been facing difficulty due to non-availability of gas and dues to banks are not being paid by the company on time.
According to sources, bankers have raised concerns over non-payment of dues and want Finance Ministry to allow conversion of their debt into equity as a short term measure.
As part of the long term strategy, the government may use LNG and gas pooling. In the proposed gas pooling, state-run GAIL will ensure availability of LNG to RGPPL at USD 10 per unit, starting this month.
According to a report, the government is likely to hold a meeting of all stake-holders to resolve the issue of non-payment of dues from the crippled Dabhol Power Project which has been closed for a long time due to fuel shortage.
