Reliance Industries has plans to
invest Rs.27,000-32,500 crore ($6-7 billion) crore to tap natural gas in the KG
basin.
Work on the project (Phase I) is
scheduled for completion by mid-2008 and will have the potential to add about
$20 billion to the GDP, and potentially support 10,000 MW of power generation.
The project will include operations
and evacuation network for its KG basin and is in the process of laying down a
1,400-km, 48-inch pipeline from Kakinada to Ahmedabad. The first batch of 10,000
tonnes of pipeline (imported) is expected in Andhra Pradesh by 18 May 2006.
In KG D6 block, the Reliance
Industries has so far drilled 15 wells, of which gas has been discovered in 14
wells which accounts for just 20 per cent of the total exploratory area of the
block.
Also See:
Reliance,
Chevron to float JV to market natural gas (27-Apr-06)