Reliance Industries changes contracts, price to rise 10% over new rate of $8.3

Mar 23 2014, 13:17 IST
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SummaryIn the new GSPA, Reliance Industries has proposed to charge government-fixed rate for natural gas...

USD 1 per mmBtu in gas price translates into an enhanced cost of production of about Rs 1,369 per ton. For 18 million tons of urea produced from gas, USD 1 per mmBtu price increase translates into an increase in cost of almost Rs 2,465.1 crore.

A USD 4 per mmBtu increase in rate would mean Rs 9860.4 crore increase in cost of production and using GCV method would mean a further Rs 2,046 crore increase in cost.

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