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Tamil Nadu
Reliance won't renew fuel contract
Staff Reporter
MADURAI:
The Reliance Industries Limited (Petroleum Business) has expressed its inability to renew the contract for supply of 115.6 KL high-speed diesel (HSD) a day to seven transport corporations in the State.
With the contract coming to an end on September 30, the RIL has asked Managing Directors of the transport corporations to make alternative arrangements for fuel.
Citing "drastic changes in the conditions and the volatile situation of the petroleum market," the company offered to continue the fuel supply contract if the terms of agreement were revised, considering the prevailing market conditions.
In a communication sent to the Special Commissioner and Secretary to the Government, Transport (A) Department, RIL vice-president Ashok Dhar said that the company agreed to supply HSD to 20 depots of State Transport Undertakings for one year, ending September 30, 2006.
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