Anil Ambani’s Reliance Infratel to go public

October 9th, 2009 NEW DELHI - The Anil Dhirubhai Ambani Group has agreed to pay under protest a marketing margin to Reliance Industries for the gas supplied from the Krishna-Godavari basin, over and above the price formulae of the government. In a letter to the oil ministry, the group has queried if the Mukesh Ambani-led Reliance Industries was entitled to charge the margin, as neither the company has undertaken such an exercise nor has the government's price formulae enabled such a provision.

September 28th, 2009 MUMBAI - The Anil Ambani group has called the marketing margin for the gas produced by Reliance Industries from the Krishna-Godavari basin illegal and asked the oil ministry to prevent the company from suspending supplies as threatened. In a letter to Petroleum Secretary R.S.

August 31st, 2009 NEW DELHI - Telecom majors Reliance Communications (RCom) and Aircel are on the verge of signing a $300-million agreement for sharing telecom infrastructure like towers, sources close to the deal said Monday. "The deal will offer RCom a revenue upside of over Rs.1,500 crore.

August 12th, 2009 NEW DELHI - A day after Reliance Anil Dhirubhai Ambani Group accused the petroleum ministry of misguiding the Prime Minister's Office (PMO), oil minister Murli Deora met Prime Minister Manmohan Singh Wednesday to apprise him of his ministry's stance on the subject. In the 30-minute meeting, Deora once again explained his ministry's position that the government had the right to determine the price and use of natural gas as it deemed fit, a senior official in the oil ministry said.

August 3rd, 2009 NEW DELHI - The government will do everything to protect public interest which is its legal obligation, Minister of Petroleum and Natural Gas Murli Deora told Lok Sabha in a statement over the distribution of gas from Krishna-Godavari Basin by Reliance Industries Limited. "We have nothing to do with the private dispute of companies or individuals," Deora said Monday in a statement, amidst protests from the opposition benches.

July 31st, 2009 MUMBAI - Reliance Communications (R-Com), part of the Anil Dhirubhai Ambani Group, has posted a net profit of Rs.1,637 crore ($342 million) for the quarter ended June 30 as against Rs.1,512 crore in the like period last year, a growth of 8.3 percent. The company's total income surged 15.5 percent to Rs.6,145 crore from Rs.5,322 crore, it said in a regulatory statement.

July 28th, 2009 MUMBAI - Reliance Natural Resources chairman Anil Ambani on Tuesday blamed the Petroleum Ministry of maintaining a biased approach in the legal dispute with brother Mukesh Ambani-led Reliance Industries over the issue of the price of natural gas from the Krishna-Godavari basin. Anil, while addressing shareholders of the company, stated that the Government would not lose a single rupee even if the gas from the fields off the Andhra Pradesh coast were to be supplied to his company at the originally contracted price of 2.34 dollars per unit.

July 27th, 2009 NEW DELHI - The Reliance Anil Dhirubhai Ambani Group has tied up finances for its 300 MW power plant at Butibori in Mahrashtra and expects the project to be operational by 2011-12, it said in a statement Monday. Announcing the financial closure with Axis Bank as the lead institution, the group said that the project would meet the power requirements of Butibori, Hingna and other industrial areas in Maharashtra.

July 22nd, 2009 NEW DELHI - Etisalat DB, a joint venture between Dubai-based telecom major Etisalat and Mumbai's Dynamix Balwas group (DB), and the Anil Ambani-promoted telephony operator Reliance Communications (RCom), have entered into an agreement to share infrastructure for 10 years, a RCom statement said Wednesday. The agreement, which will enable Etisalat DB to share tower and transmission infrastructure owned by RCom and sister company Reliance Infratel, is expected to increase RCom's revenues by Rs.10,000 crore ($2.2 billion), the company said in the statement.

July 14th, 2009 NEW DELHI - The Reliance Anil Dhirubhai Ambani Group has tied up the finances for the Rs.50-billion ($1-billion) Rosa power project in Uttar Pradesh and hopes to start the first phase of operations this year. Announcing the financial closure with IDBI Bank as the lead institution, the group said the project, coming up in Shahjahanpur district, some 180 km from state capital Lucknow, would supply 900 MW to the state-run Uttar Pradesh Power Corp.

June 29th, 2009 MUMBAI - Reliance Globalcom, part of the Anil Ambani-owned Reliance Communications, Monday said its revenues for the quarter ended March 31, 2009 increased 23 percent to Rs.1,880.3 crore ($391 million). The company had posted Rs.1,525.7 crore in revenue during the January-March quarter last year.

May 26th, 2009 MUMBAI - Reliance Communications (RCom), India's second largest telecom operator, Tuesday said it has received approval from its shareholders for the demerger of its optic fibre division and subsequent merger with wholly-owned subsidiary Reliance Infratel. "The demerger will help reduce set-up and operating costs resulting in cost efficiency coupled with greater financial flexibility, the company said in a regulatory statement.

January 18th, 2009 MUMBAI - The Anil Ambani group Monday told the Bombay High Court that allowing Reliance Industries to charge a higher tariff for gas from the Krishna-Godavari basin would mean a Rs.250-billion scam. The group, which is fighting a bitter legal battle with the Mukesh Ambani-led Reliance Industries over gas from the fields off the Andhra Pradesh coast, said state-run utility NTPC must not be asked to pay more than the agreed price of $2.34 per unit.

January 15th, 2009 MUMBAI - The Bombay High Court is expected to decide next week whether Mukesh Ambani-led Reliance Industries can assume sale of natural gas from the Krishna-Godavari basin, off the Andhra Pradesh coast. The court had imposed a stay on the sale of natural gas from the fields after two cases were filed against Reliance Industries over the sale price and qualtity of fuel - one by the Anil Ambani Group and the other by state-run power utility National Thermal Power Corporation (NTPC).

January 13th, 2009 MUMBAI - Mukesh Ambani's Reliance Industries Wednesday denied any pact with Anil Ambani Group's Reliance Natural Resources Ltd (RNRL) for the sale of natural gas from the Krishna-Godavari basin off the Andhra Pradesh coast. Representing Reliance Industries, senior counsel Harish Salve told the Bombay High Court that a memorandum of understanding was entered into with Reliance Energy, another company in the Anil Ambani group, for the Dadri power project in Uttar Pradesh.