Companies

East Coast Energy gets MoEF nod for AP project

V. Rishi Kumar Hyderabad | Updated on September 30, 2011

East Coast Energy has received the Ministry of Environment and Forests (MoEF), Government of India, nod for the construction of phase I of 1,320 MW of 2,640 MW thermal power project at Kakarapalli, Santhabommali Mandal in Srikakulam district of Andhra Pradesh.

The company had planned to start works on the project after it received the go-ahead by the MoEF following a due diligence report submitted by the Expert Appraisal Committee. The execution of the project was stalled earlier in the year after protests by locals and unrest in Kakarapalli leading to violent incidents. The MoEF issued notice to stall its execution until further orders.

Mr T.V. Krishna, Managing Director of East Coast Energy, in a statement said: “We seek support and guidance from the Government and all regulatory agencies in smooth implementation of the power project. We would take the locals into confidence and partner with them and the State to develop a sustainable and eco-friendly power plant and share the benefits with stakeholders.”

The company has enhanced the budget from Rs 10 crore approved earlier by the MoEF to Rs 25 crore to be spent in a phased manner during the construction phase towards welfare measures.

Thus far, the company has incurred an expenditure of Rs 1,500 crore on the project which envisages setting up of a 2,640 (4x660) MW supercritical power project with Rs 7,000 crore for the first phase. The project has received all regulatory and statutory approvals.

Published on September 30, 2011

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