Leader of Opposition in Gujarat assembly Shaktisinh Gohil has charged the state government with favouring Mumbai-based Swan Energy
Limited to the tune of Rs 14,300 crore by selling 49 per cent equity holding of Gujart Pipavav Power Limited (GPPL), a subsidiary of Gujarat State Petroleum Corporation (GSPC).
Gohil told reporters on Wednesday that the Gujarat government also decided to give 70 per cent of carbon credits to Swan Energy despite the company holding 49 per cent share. Gohil said the equity was sold to Swan Energy for just Rs 381 crore. Demanding a CBI probe into the matter, he sought to know from the government "whether the equity was divested through a competitive bidding process, what was the basis of valuation of GPPL and why was Swan selected."
"The deal values GPPL at only about Rs 778 crore, while it is commissioning 702 MW of gas based power generation capacity," said Gohil. GPPL has plans to ramp up this capacity to 1050 MW subsequently. Besides this, GPPL has been roped in by the state government to convert three of its power plants from coal to gas and garner precious carbon credit.
Source : http://timesofindia.indiatimes.com/city/ahmedabad/Gohil-alleges-scam-in-GPPL-divestment/articleshow/5558036.cms
Limited to the tune of Rs 14,300 crore by selling 49 per cent equity holding of Gujart Pipavav Power Limited (GPPL), a subsidiary of Gujarat State Petroleum Corporation (GSPC).
Gohil told reporters on Wednesday that the Gujarat government also decided to give 70 per cent of carbon credits to Swan Energy despite the company holding 49 per cent share. Gohil said the equity was sold to Swan Energy for just Rs 381 crore. Demanding a CBI probe into the matter, he sought to know from the government "whether the equity was divested through a competitive bidding process, what was the basis of valuation of GPPL and why was Swan selected."
"The deal values GPPL at only about Rs 778 crore, while it is commissioning 702 MW of gas based power generation capacity," said Gohil. GPPL has plans to ramp up this capacity to 1050 MW subsequently. Besides this, GPPL has been roped in by the state government to convert three of its power plants from coal to gas and garner precious carbon credit.
Source : http://timesofindia.indiatimes.com/city/ahmedabad/Gohil-alleges-scam-in-GPPL-divestment/articleshow/5558036.cms
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