The gas supply master agreement (GSMA) signed between Reliance Industries (RIL) and Reliance Natural Resource (RNRL) will provide for gas supply to Greenfield Power plant provided RNRL receives prior allocation by the government, say sources to CNBC-TV18's Nayantara Rai.
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Excerpts from After the Bell on CNBC-TV18 Watch the full show »
This is a clear departure that from the stand that RIL has been taking since 2006. RPower is planning to set up a gas power project to the tune of 8000 MW, which will be a boast to the company.
It is also learnt that GSMA allows RIL to sign similar GSPAs with other companies. GSMA is not just for Krishna-Godavari (KG) basin but for NELP blocks. Both the power and oil ministry are drafting a policy on gas utilization as far asGreenfield Power Plants are concerned. Right now, it is only for existing fertilizer and power plants.
Sources add that the GSMA between the two companies is valid for 12 years, till March 31, 2022.
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