Reliance asks govt to end logjam on KGD6 capex plan

Reliance Industries has asked the oil ministry to break the logjam and approval for its KGD6 capex plans of USD 1.6 bn for FY12 and FY13.

According to sources the government had verbally agreed to the capex plan on August 7 but still has to given written approval. The government wants to give approval once RIL agrees to the CAG undertaking a finance and performance audit. In a letter dated October 4, RIL asked the oil ministry to de-link the CAG audit and approvals for KGD6.