NTPC inks pact to purchase GAIL’s 25% stake in RGPPL

NEW DELHI: State-owned on Tuesday stated it has signed a share buy settlement to purchase ‘s 25.51 per cent stake in Ratnagiri Gasoline and Energy Pvt Ltd (RGPPL), which is usually often called Dabhol venture.

After the transaction is full, NTPC would have 86.49 per cent stake within the RGPPL. Earlier in January, the corporate had introduced buying 35.47 per cent stake in RGPPL from its lenders. Initially, NTPC and GAIL had 25.51 per cent stake every within the Dabhol venture.

“NTPC Ltd has executed share buy agreements with GAIL (India) Ld on February 23, 2021, for buy of GAIL’s share (25.51 per cent) in Ratnagiri Gasoline and Energy Pvt Ltd (RGPPL) and sale of NTPC’s share (14.82 per cent) (on absolutely dilutive foundation) in Konkan LNG Ltd (KLL),” in keeping with a BSE submitting.

It added that after switch of shares as per the agreements, NTPC will exit from KLL, and NTPC’s shareholding in RGPPL will stand at 86.49 per cent.

RGPPL was included on July 8, 2005, and is promoted by NTPC Ltd and GAIL (India) Ltd. The corporate was set as much as take over and revive the belongings of Dabhol Energy Firm Undertaking.

RGPPL owns an built-in energy technology and re-gasified LNG facility. The facility station is without doubt one of the India’s massive gas-based mixed cycle energy station.

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