New Delhi: Anil Ambani termed the rejection of the gas price agreement between Reliance Industries Limited (RIL) and his group company Reliance Natural Resources Limited (RNRL) by the government 'premature and unfortunate'.
He said the petroleum ministry should have referred the issue to an expert committee for evaluation.
Anil said the gas supply agreement was arrived at in 2004 between the two companies, a claim disputed by RIL, headed by his elder brother Mukesh.
"Apart from the gas sale arrangement made in January, 2006, no other gas sale agreement from K G Basin has been entered into between RIL and RNRL at any time," RIL said in a statement.
Anil's statement on the gas supply deal comes within days of his unsuccessful attempt for a review of the gas price proposal rejected by petroleum minister Murli Deora, whom he had met last week.
Anil also said the gas supply arrangement was not part of the family settlement of 2005, an issue based on which petroleum ministry had rejected RIL's proposal.
Anil said the gas contract with RIL was fully compliant with the production sharing contract of the ministry of petroleum and mirrored the RIL-NTPC deal arrived through International competitive bidding.
He said the land acquisition for the project was completed in line with the state government's power policy, which was open and transparent for all companies.
The land acquisition issue had been opposed by former Prime Minister V P Singh on the grounds that farmers' interests had not been taken care of.
Over Rs 150 crore have already been invested in the project, Anil said, adding the project has made substantial progress.
"All vital clearances, including clearance from Ministry of Environment and Forests (MoEF), are in place," he said.
The statement said the project was necessary to meet the critical power needs in the states of Punjab, Haryana, Delhi, Uttar Pradesh and Rajasthan.
"Power shortages in Delhi will disappear if the Dadri project is commissioned at the earliest. Dadri power project will supply more than 2000 MW of power to Delhi," Anil said.
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