Hyderabad : GVK Infrastructure said it is negotiating with the government for refund of Rs 180 crore spent on seven deepwater exploration blocks, which were surrendered last year, a senior group official said. The company may also take a legal recourse if the government does not heed to the claim, he added.
“There is a minimum work programme (with regards to development of these blocks). The expenditure associated with this programme was Rs 180 crore. We will fight for it. Because it is not my mistake. When you (the Government) have given me the blocks, it should be unencumbered also. All of a sudden the Defence Ministry does not allow me to enter into this area… Its not my job,” GVK Group CFO Issac George said on the sidelines of India Aviation-2014 here.
The GVK-BHP Billiton consortium emerged as winners of seven deepwater exploration blocks off the west coast of India in NELP VII.
IOC plans refinery
Meanwhile, state-owned Indian Oil Corp (IOC)
is planning to set up a
Rs 30,000 crore refinery at Mundra in Gujarat as part of a plan to increase its processing capacity to 100 million tonnes.