The Hindu Business Line : Haryana Power forms JV with IPGCL

CHANDIGARH: With Haryana Power Generation Corporation Ltd and Indra Prastha Generation Corporation Ltd (IPGCL) jointly floating a company for development of a Madhya Pradesh-located coal block, Haryana-based thermal power plants can look forward to an en hanced flow of coal supply.

The coal block is said to have reserves of coal sufficient enough for generating 4,000 MW of power for the next 25 years.

Giving details, an HPGCL spokesman said in a release here today that a coal block, Mara-II Mahan, in Singrauli district of Madhya Pradesh was allocated by the Government of India under the Government Company dispensation.

It was jointly allocated to HPGCL and the Government of NCT of Delhi in August 2006. The total area of the coal block is about 66 sq km and has an estimated reserve of 950 million tonnes of coal, said the release.

The spokesman added that HPGCL would also explore the possibility of establishing a pit-head plant at the coal block site. The HPGCL and the IPGCL formed a joint venture company for further development of the coal block.

Formalities such as JV agreement, memorandum of association (MoU) and Article of Association have already been finalised, according to the release.

The JV Company would have two Directors from HPGCL and two from IPGCL, while the posts of Chairman and CEO would be rotated between Haryana and Delhi every two years, he said. - PTI

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