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Our Bureau

New Delhi, March 22

The uncertainty over the fate of the final bidder for the 4,000 MW Sasan Ultra mega power project is likely to be cleared on Friday as the high level committee headed by the HDFC Chairman, Mr Depak Parekh, is expected to deliberate on issue. Mr Parekh headed the evaluation committee for ultra mega power projects, two of which were put up for bids initially. Award for the Rs 16,000 crore Sasan power project was won by Lanco-Globaleq Singapore consortium in which Globaleq had 70 per cent stake and Lanco 30 per cent.

Following a global restructuring of parent company, Globaleq, the company exited the consortium and Jindal Steel & Power replaced it while Lanco too took over a portion of Globaleq share. The issue before the high level committee is to decide whether the bid that has been already been awarded could be revoked if ownership of the winning consortium changes and go in for fresh round of bidding or the bid, once awarded, remains with the winner irrespective of change in ownership, sources said.

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