Business Daily from THE HINDU group of publications
Thursday, Aug 09, 2007
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Business Daily from THE HINDU group of publications Thursday, Aug 09, 2007 ePaper |
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Corporate
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New Projects Industry & Economy - Power Suryachakra Power mulls 1,200-MW plant in Orissa
Our Bureau Hyderabad, Aug.8 Suryachakra Power Corporation Ltd has informed the BSE that the company is in talks with the Orissa Government for setting up a 1200-MW thermal power project. It is in the process of securing various approvals for land allotment, water and all permissions excluding coal linkage and supply. As per plans, the company plans to create a 1,200-MW (4x300 MW) plant, the first phase (300 MW) of which will involve an outlay of Rs 1,200 crore. The company has entered into an MoU with Desein Pvt Ltd, New Delhi for technical consultancy, supervision and execution. Suryachakra has also signed an expression of interest (EoI) with Tata Power Trading Company Ltd for supply of coal for a 10-year period. Tata Power Trading has expressed interest in buying the power generated under a separate power purchase agreement. Additionally, Suryachakra’s project development agency is IL&FS, which will help it achieve financial closure. Its two wholly owned subsidiaries – Lahari Power and South Asia Agro – are setting up renewable energy based plants of 9.8 MW each in Chhattisgarh. These subsidiaries have signed MoUs with Tata Power Trading for supplying power generated for five years from October this year, subject to approval from the Chhattisgarh State Electricity Board.
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