Financial Daily from THE HINDU group of publications
Friday, Nov 01, 2002
Financial Daily from THE HINDU group of publications Friday, Nov 01, 2002 |
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Industry & Economy
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Power KVK Energy signs pact for plants in Chhattisgarh Our Bureau
NEW DELHI, Oct. 31 KVK Energy Private Ltd, a Hyderabad-based power generation company, has signed a memorandum of understanding (MoU) with the State electricity board of Chhattisgarh for setting up two thermal power units of 67.5 MW each at Korba. Through this private sector initiative, the power-rich State will add an additional 135 MW to its energy capacity. Under the MoU, KVK Energy is to set up the two 67.5 MW thermal units at an expected cost of less than Rs 3 crore per MW. The project, slated to be ready in the next 24 months, entails an initial investment of Rs 354 crore. The independent power producer (IPP) plans to sell the power generated at the units to States such as Rajasthan and Delhi. The tripartite MoU was signed by the State Power Secretary, Mr Ajay Singh, the Chairman of the Chhattisgarh State Electricity Board, Mr Gopal Tiwari, and the Director of KVK Energy, Mr K.V. Kumar, in the presence of the Chief Minister, Mr Ajit Jogi. . The National Thermal Power Corporation (NTPC) has already started construction of its 2,640 MW Sipat super thermal plant (STP) and is adding another 600 MW at its Korba complex. The Gujarat Government is also setting up a 500 MW power plant in the State, according to Chhattisgarh Government sources.
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