Reliance Industries bank guarantee issue to be resolved in 15 days: Veerappa Moily

Comments 0
I am confident of settling the bank guarantee issue with Reliance within a fortnight: Veerappa Moily (Reuters) I am confident of settling the bank guarantee issue with Reliance within a fortnight: Veerappa Moily (Reuters)
SummaryThis step will enable Reliance Industries to charge higher gas price from April 1.

that only some fertiliser plants now get supplies from the offshore block.

"We will put up a cabinet note in 10-15 days. Our ministry is concerned because we are keen to close the issue," he added.

A spokesman for Reliance, controlled by India's richest man, Mukesh Ambani, declined to comment on the matter.

The minister did not disclose the amount of guarantees, although media reports have earlier estimated them at $135 million per quarter.

India, which imports nearly 80 percent of its oil and a quarter of its gas requirement, hopes to launch a new round of auctions for oil and gas blocks by mid-January, Moily said.

Single Page Format
Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...