EB Bureau
After protracted legal battle finally, Ambani brothers today signed the gas supply masters agreement ( GSMA) clearing decks for Anil Dhirubhai Ambani Group’s (ADAG) gas based power projects which including 7480 Mw Dadri project in Uttar Pradesh.
Mukesh Ambani-run Reliance Industries and his younger brother Anil-led RNRL today signed a revised gas supply agreement.
The revised GSMA was signed pursuant to the Supreme Court’s May 7 judgement, who had asked the two groups to renegotiate the agreement and base it on the fact that government is the owner of the gas and hence, has the last word on its pricing and utilisation.
Armed with the new agreement, ADAG would now move the government seeking allocation of gas to its power plants, including its upcoming projects in Dadri, Uttar Pradesh and Shahpur in Maharashtra.
In a statement filed with stock exchanges, RNRL said that “pursuant to the judgment of the Supreme Court dated May 7, 2010, RIL and RNRL have on June 25, 2010 signed a revised Gas Supply Master Agreement (GSMA).”
“RNRL will now take appropriate steps requesting the Government of India for expeditious allocation of natural gas to facilitate implementation of the same,” RNRL said.
However spokespersons of both the group could not become available for the comment on details of the agreement like quantity, number of years for which agreement will be valid, conditions regarding take and pay clause, delivery point etc.

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