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NTPC, a nationalized power major, has disclosed on Friday that it is “committed to drawing the allocated gas" from the Krishna – Godavari basin for projects based in Delhi, despite the fact that a legal battle is going between with Reliance Industries Ltd.
"NTPC is committed to drawing the allocated gas for its national capital region gas-based power stations at Anta, Dadri and Faridabad, without prejudice to its rights and contentions in the ongoing suit between NTPC and RIL," said the company in a statement to the Bombay Stock Exchange (BSE).
About 2.67 million units of gas, intended for the NCR plants, will be utilized by NTPC.
NTPC and Reliance Industries are in a legal battle as NTPC was the gas to be supplied at $2.34 per unit for 17 years. This rate had been fixed in a tender some years ago.
NTPC is planning to boost the capacity of Kawas and Gandhar expansion projects, which are gas-based power plants.
"Various issues for signing of gas supply and purchase agreement with Reliance Industries have been resolved, except one for which NTPC intimated its position to RIL and the same was not acceptable to them," the company said referring to the case which is pending at the Bombay High Court.
But NTPC was silent when asked about the accusation raised by RIL citing that the $2.34 deal was not signed by NTPC.
"Entire facts of the case are before the Honourable Bombay High Court and the matter is subjudice. Hence, NTPC does not want to comment on this," it said in the regulatory statement.
