State-run gas utility GAIL (India) has agreed to infuse an additional Rs 500 crore into Ratnagiri Gas and Power (RGPPL) to enable the owner of the Dabhol plant to clear pending dues of contractors.
The GAIL board’s decision would enable RGPPL to pay Punj Lloyd and its British partner Whessoe, the contractors for completing the unfinished LNG terminal adjacent to the plant, sources said.
The board had earlier objected to GAIL lending to RGPPL on grounds that a public sector firm can only give loan to a sister PSU or a rated firm, RGPPL lacking both the qualification.
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