Financial Daily from THE HINDU group of publications
Friday, May 19, 2006
Financial Daily from THE HINDU group of publications Friday, May 19, 2006 |
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Industry & Economy
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Power GMR Energy plans to buy LNG from Australian co Amit Mitra
Shamshabad , May 18 GMR Energy Ltd, which operates a barge mounted power generation facility off the coast of Mangalore, is in talks with an Australian company for purchase of LNG on the spot. The power unit is currently fired by naphtha and its naphtha linkage is due to expire in 2008. "We are planning to convert it into a gas fired plant," Mr Madhu Terdal, CFO of GMR Infrastructure, told a visiting team of reporters at Hyderabad.
LNG supply
He said converting the power plant into a LNG based one would require an investment of $10 million. "We want to have a long-term contract with the Australian company for LNG supplies," he said. Alternatively, the company is also toying with the idea of towing the barge mounted power plant to the Krishna Godavari basin, where it could get adequate supplies of natural gas. "This will involve an investment of $18 to $20 million. We will choose one of these options, depending on their financial merits," Mr Terdal said.
Power plant
The company also operates another power plant at Vemagiri in Andhra Pradesh. This plant was initially established for 468 MW and the primary fuel was naphtha. Thereafter, the fuel was changed to natural gas, with the Ministry of Petroleum and Natural Gas allotting 1.64 MMSCMD of natural gas to the project. The company also operates a 140-MW hydropower project near Badrinath in Uttaranchal-located on the Alaknanda river, the project is a Run of River type one.
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