In a stunning admission, RIL has released defending the cost escalation of KG basin project.
As against the ADAG’s claim, RIL says the capital expenditure for the KG-D6 fields has increased from $2.47 billion in 2003 to $8.83 billion due to a 2.5 times increase in reserves, trebling of production facilities, doubling of peak production, hike in number of wells, field life and inflation in the equipment and services industry.
If this was the case, why didn’t the Government come with a white paper on what was going on right from the bidding stage till completion with accounts of Shady RIL audited by CAG office ?