Government slaps $579 million penalty on India's Reliance | Bangkok Post: news

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Government slaps $579 million penalty on India's Reliance

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NEW DELHI - The Indian government has announced a new penalty of $579 million on the country's largest private company, Reliance Industries, for failing to meet commitments to supply gas for the fourth year in a row. 

File photo shows engineers welding carbon steel pipes as part of a gas pipeline for India's Reliance Industries at Medak some 175kms from Hyderabad

Oil Minister Dharmendra Pradhan told parliament on Monday that Reliance supplied only 9.77 million standard cubic meters per day of gas from its KG-D6 gas field in the Bay of Bengal last year, a fraction of its target of 80 million.

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