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Ratnagiri Gas and Power Ltd on the path of revival says Minister Piyush Goyal
New Delhi, Mar 23 (IBNS): Steps have been taken for revival of Ratnagiri Gas and Power Ltd said Piyush Goyal, Minister of State (IC) for Power, Coal & New and Renewable Energy and Mines on Thursday.
In his written reply to a question in the Lok Sabha, the minister said that Ratnagiri Gas and Power Pvt. Limited (RGPPL) has started generation of power under the scheme utilization of gas-based power generation capacity for the year 2015-16 and 2016-17.
Total debt of RGPPL is approximately Rs. 8906 crores, the minister said.
The minister also said that Railways has agreed to continue to purchase 500 MW power from RGPPL power plant from April 1 this year, for a period of five years.
Government of Maharashtra has agreed, in principle, for granting waiver of State transmission charges and transmission losses and also waiver of VAT on gas purchase by the RGPPL, the minister said.
The Minister further stated that the central government has taken several steps for revival of RGPPL, such as a decision to demerge the Power Block and Liquefied Natural Gas (LNG) terminal into two separate entities.
Banks/financial Institutions have agreed to restructure the debt.
Gas supply to RGPPL at a firm price for the five year period has been agreed by GAIL.
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