RGPPL Integrated Plant (Power Block & R-LNG Terminal) was not creating value. Non-availability of domestic gas has resulted in disruption of operations of Power Block since FY2013 and complete shutdown from December 2013. only for 6-7 months and there was an urgent need for implementing the breakwater facility. So, it was felt essential to demerge the Power plant and R-LNG terminal for Value Creat
ion, dedicated focus, Resolution of Funding Constraints etc. Accordingly, demerger scheme was prepared for demerger of RGPPL into two separate companies i.e. one for Power Block and another for LNG Terminal. In order to facilitate the transfer of LNG undertaking pursuant to Demerger Scheme of Ratnagiri Gas and Power Private Limited (RGPPL), Board of Directors of RGPPL approved the incorporation of Konkan LNG Private Limited (KLPL) as its wholly owned subsidiary in December, 2015. Demerger Scheme of RGPPL was approved by NCLAT vide order dated 28th February, 2018 with Appointed Date as 1st January, 2016 thereby transferring the LNG undertaking from RGPPL to KLPL.Demerger scheme was made effective from 26.03.2018. Accordingly, LNG business and all its associated assets and liabilities have been transferred to KLPL by RGPPL, with mirror shareholding as of RGPPL. KLPL owns and operate LNG re-gasification terminal having 5 MMTPA capacity at Dabhol, Maharashtra. Pursuant to shareholders approval for conversion of the Company from Private Limited to Public Limited, Registrar of Companies, NCT of Delhi & Haryana issued fresh certificate of incorporation on February 18, 2020 whereby the name of the Company has been changed to “Konkan LNG Limited”.
