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Power Corporate - New Projects
Our Bureau
The Mundra project in Gujarat is the first in the series of nine ultra mega power projects
Mumbai May 16 Tata Power has awarded Korea-based Doosan Heavy Industries and Construction Ltd a contract for supercritical boilers for its Mundra ultra mega power project. It did not specify the value of the engineering-procurement-construction contract, but said the deal would cover 45 per cent of the total ordering under this project. The 4,000-MW project will cost Rs 16,000 crore. Tata Power had recently announced the acquisition of Coastal Gujarat Power Ltd, a special purpose vehicle formed for the project. Last month, Power Finance Corporation transferred Coastal Gujarat Power Ltd to Tata Power. The boilers are for five units of 800 MW each, said a statement from Tata Power. This would be the first instance of an 800-MW unit in India, it said.
Accelerated pace
Doosan's scope of work includes civil works and complete services including custom clearance inland transportation, site handling, erection, commissioning and performance testing. "The contract reinforces Tata Power's commitment to accelerate the pace of the project by not only ordering quickly but also tying up schedules, which would advance the completion of the project ahead of the bid stipulation," Tata Power said. The capacity addition would happen within the 11th Five Year Plan, it said. The Mundra project in Gujarat is the first in the series of nine ultra mega power projects implemented by the Centre to have been transferred to a successful bidder.
Power purchase deals
Tata Power had in December won a contract from the Government to set up the Mundra project. The company had submitted the lowest tariff of Rs 2.26 per unit, a levelised rate for 25 years, with the first-year tariff pegged at Rs 1.91 per unit. The project will supply 1,900 MW to Gujarat, 800 MW to Maharashtra, 500 MW to Punjab and 400 MW each to Haryana and Rajasthan. Gujarat Distribution Company has been nominated as the lead procurer on behalf of all procurers. Tata Power recently announced that it has agreed to acquire 30 per cent equity stakes in two Indonesian coal producers, PT Kaltim Prima Coal and PT Arutmin, as well as related trading companies owned by PT Bumi Resources Tbk. The acquisition specifically addresses fuel requirements for the Mundra project, besides Tata Power's Trombay and coastal power projects in Maharashtra. The company's shares closed 1.22 per cent higher on BSE at Rs 587.05 on Wednesday.
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