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Orissa signs power projects deals

Bhubaneswar, Sep 26 (IANS) Orissa Tuesday signed memorandums of understanding with several companies including Tata Power for establishment of power plants in the state at an investment of Rs.450 billion ($9.78 billion) to produce about 11,000 MW of power.

Tuesday, September 26, 2006 | 9:05:18 PM IST (+05:30 GMT)
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Bhubaneswar, Sep 26 (IANS) Orissa Tuesday signed memorandums of understanding with several companies including Tata Power for establishment of power plants in the state at an investment of Rs.450 billion ($9.78 billion) to produce about 11,000 MW of power.

The state energy secretary Asit Tripathy signed the MOUs on behalf of the state government with the top officials of the companies at the state secretariat in the presence of Chief Minister Naveen Patnaik and Energy Minister Surya Narayan Patra, a top official said.

The MoUs were signed with Tata Power Company, Visa Power, Jindal Group, Lanko Group, KVK Nilachal Power Ltd, Calcutta Electrical Supply Corporation, Monnnet Ispat, Essar Power and Sterlite Energy.

Tata Power Company will set up a 1,000 MW thermal power project with captive coal mining facilities at an investment of around Rs.40 billion at Marthapur near Naraj in Cuttack district.

Another 1,000 MW is expected to come up as the second phase of the project and will take the total capacity to 2,000 MW with an estimated investment of Rs.90 billion, the official said.

Visa Power signed the agreement for production of 1,000 MW with an investment of Rs.36.9 billion while Jindal Group will generate 1,000 MW at an investment of Rs.45.2 billion.

The Lanko Group would produce 1,320 MW at an investment of Rs.45 billion, the official added.

Similarly, KVK Nilachal Power Ltd is to produce 600 MW at an investment of Rs.25.8 billion and Calcutta Electrical Supply Corporation would generate 1,000 MW with an investment of Rs.40.4 billion.

While Monnnet Ispat would create 600 MW at an investment of Rs.28.5 billion, Essar Power would produce 1,000 MW at an investment of Rs.45 billion and Sterlite Energy with 2,400 MW at an investment of Rs.7.48 billion, he said.

Chief Minister Naveen Patnaik said the state would earn Rs.17 billion revenue from these power projects, which will provide 10,000 jobs directly and 20,000 jobs indirectly.

He said the state has the potency to become power house of the country. He indicated the environment will be given top priority and an environment management fund will be created with contributions from the signing companies.

Reliance Energy was supposed to sign a MoU, but it could not materialise because of a dispute between the state government and the company over some financial matter.

'It would be resolved soon,' Patra said.

Reliance Energy will ink a MoU with the state government for production of 4,000 MW power at an investment of Rs.160 billion, he said.

Besides the Bhusan Group will also sign an agreement with the state government for production of 2,000 MW at an investment of Rs.84.8 billion.

The dates are however not yet finalised, Patra added.

Copyright : Indo-Asian News Service
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