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M. Somasekhar

Hyderabad, Aug. 14 Nagarjuna Construction Company (NCC) has firmed up plans to enter the power sector in a big way.

The Hyderabad-based, Rs 3,400-crore infrastructure major has identified Machilipatnam Port and Srikakulam areas to locate, coal-fired super critical power projects.

The estimated investments in each of the areas would be of Rs 10,000 crore. In Machilipatnam, NCC will establish three units of 660 MW each as part of consortia, including Maytas Infra.

In Srikakulam, NCC will go on its own with plans to put up 3 x 660 MW units .

Some international companies have shown interest in a strategic partnership in implementing the power projects, said Mr Raghu Alluri, Associate Head (Projects) of NCC.

NCC, in consortia with Maytas Infra Ltd, SREI Infrastructure Finance Ltd and Sarat Chatterjee & Co (VSP) is implementing the Rs 1,590-crore, All Weather Deep Water Port at Machilipatnam.

The project, for which foundation stone was laid on April 23, would be ready in three years. The cargo handling capacity would be 35 million tonnes per annum, when fully operational. After Phase-1, the capacity would be 15 mtpa. Agriculture produce, minerals and commodities from the neighbourhood districts would get an export fillip. The consortia have signed a 30-year concessional agreement.

The power plants are intended to not just meet the captive demands of the Port, but also act as a major draw for catalysing the growth of industries in the neighbourhood, he told Business Line recently.

NCC is scouting for special opportunities in ports sector also. It is exploring niche areas where a private minor port can be developed with the support of industry. The idea is to create ‘hub ports’, which are quite common in China, Mr Alluri said.

In a typical ‘hub port’, in addition to the port for handling cargo, industry clusters would be developed. “We are in talks with a couple of industries to join in projects. We are open for a joint venture partnership,” he added.

More Stories on : Diversification | Real Estate & Construction | Power

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