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

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NEW DELHI: State-owned on Tuesday mentioned 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 often generally known as Dabhol mission.

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 mission.

“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 totally 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 integrated 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 Venture.

RGPPL owns an built-in energy era and re-gasified LNG facility. The facility station is likely one of the India’s giant gas-based mixed cycle energy station.