New Delhi: Power minister P Kumaramangalam has asserted that NTPC would be picking up 16.63 per cent stake in Petronet LNG amidst reported Opposition from finance ministry.

After an hour-long meeting with the petroleum minister VK Ramamurthy here on Monday Kumaramangalam told PTI "NTPC will have a stake in Petronet LNG and all the issues regarding the power utility's participation in the company have been cleared." Finance ministry is reported to have opposed NTPC's inclusion as equity partner in Petronet LNG. Following earlier discussion between power and petroleum ministry, IOC and BPCL were asked to exit from Petronet LNG, in which they have promoters stake of 12.5 per cent each, the same as OIL and ONGC and GAIL.

IOC gets right of way to lay Chennai-Madurai pipeline

New Delhi: Indian Oil Corporation has obtained the right-of-way (row) for laying a 505 km long Chennai-Trichy-Madurai product pipeline. The Rs 538 crore pipeline, to beimplemented under Petronet India Limited, would be completed by July 2001. IOC, which is the lead company in the project, would havea 26 per cent stake in the Petronet subsidiary.

The pipeline would lift petro products from the stand-alone Madras Refineries Limited (MRL). This is expected to give IOC a crucial advantage in the southern region, where the state-owned company does not have any refinery of its own. IOC has already entered into an alliance with MRL for marketing its entire seven million tonnes of products from the Chennai-based refinery for a period of seven years. The corporation is at present conducting the route survey for laying the pipeline that would pass through Trichy.

NTPC seeks state pollution board okay for Cheyyur project

Chennai: NTPC will soon submit a feasibility report for its proposed 1000 mw Cheyyur thermal project to the Central Electricity Authority (CEA). "We have approached Tamil Nadu Pollution Control Board for clearance after which NTPC would put up afeasibility report for CEA's approval, executive director of NTPC A P Ramaswamy told reporters on Tuesday. ``We hope to get site clearance by next month from the centre and we will soon submit the proposal to the ministry of environment and forests at the Centre for their approval, he said adding NTPC would commission the project within three years of obtaining all clearances.

ONGC donates Rs 5 crore for Kargil bravehearts

New Delhi: The Oil and Natural Gas Corporation (ONGC) has contributed Rs 5 crore to the Prime Minister's Relief Fund for the War Affected Personnel and Families of Kargil Warriors. The ONGC Officers' Community has in addition donated a day's salary, inflating the total contribution from ONGC to Rs 5.60 crore, says a company release.