CPI(M) has opposed a decision of the Centre to allow private Vedanta Limited in exploration of hydrocarbon in Tripura. The party said the move would undermine state owned ONGC which began operations in the State five decades ago.
In a statement, CPI(M) state secretariat also lashed out at Congress for adopting policy to give preferential treatment to private and foreign companies which had allegedly gain momentum in current tenure of NDA government.
The party said the decision to license Vedanta Company – a diversified natural resources company – would prove futile in Tripura. It lauded ONGC for successfully exploring huge gas reserve facilitating installation of gas based projects.
Establishment of 726MW gas based power plant at Palatana in south Tripura was most important initiative of the ONGC. It had also been supplying gas to power plants of NEEPCO and state electricity corporation.