NTPC, one of the promoters of Dabhol power project's new owner Ratnagiri Gas & Power (RGPPL), today said it was keen to acquire the LNG terminal associated with the project and was ready to infuse Rs 500 crore into cash-starved RGPPL for the purpose."Our board has cleared the infusion of Rs 500 crore into RGPPL...We will do so as and when the government expects us to do that," Chandan Roy, director (operations) of NTPC, said here.Roy, who also heads RGPPL, said NTPC was keen to acquire the 5 million tonne liquefied natural gas (LNG) terminal linked with the 2,150 MW Dabhol power plant.NTPC's statement comes after another RGPPL promoter GAIL (India) said last month it was also willing to infuse Rs 500 crore into RGPPL provided it was given the LNG terminal.Both NTPC and Gail had put in Rs 500 crore into RGPPL to acquire 28.33% each at the time of taking over Dabhol assets.Maharashtra State Electricity Board and IDBI-led lenders control the remaining equity stake in RGPPL.Sources said the Empowered Group of Ministers on Dabhol was exploring the options of infusing additional money into RGPPL so as to complete the revival process of the power plant and LNG terminal. Already, the revival cost has shot up to Rs 12,600 crore from Rs 10,300 estimated earlier.While FIs are reluctant to infuse more money into the project, a solution mooted to tide over the crisis was to ask Gail or NTPC to inject Rs 500 crore for the LNG terminal. In return, Gail and NTPC were promised the first right to buy the terminal in case it is sold after hiving off.
