Financial Daily from THE HINDU group of publications
Thursday, Jun 09, 2005
Financial Daily from THE HINDU group of publications Thursday, Jun 09, 2005 |
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Corporate
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Announcements Reliance Ind to supply gas to REL's Dadri power project Our Bureau
Mumbai , June 8 RELIANCE Energy Ltd's 3,740-MW gas-based power project at Dadri in Uttar Pradesh got a shot in the arm with Reliance Industries Ltd (RIL) agreeing to supply gas for the project. Mr Anil Ambani, REL Chairman and Managing Director, told shareholders at its annual general meeting in Mumbai on Wednesday, "I am happy to report that natural gas from Reliance Industries will be available as feedstock for the Dadri project. As per the current indications of gas availability, the project is likely to be commissioned in 2008-09." Many of the company's shareholders saw in this announcement an indication that a solution to the feud between Mr Anil Ambani and his brother, Mr Mukesh , may be on the cards. The Dadri project will be developed in phases, with an initial investment of Rs 11,000 crore. Outlining REL's other plans in the generation sector, Mr Anil said the company has initiated steps to develop an "ultra-mega" 12,000-MW coal-based power project in Orissa at an estimated investment of Rs 48,000 crore. "This will, by far, be the world's largest pit-head coal-based power plant in a single location," he said. REL, he said, has also signed an MoU with the Maharashtra Government to examine the feasibility of setting up a gas-based combined cycle power plant of 4,000 MW at a suitable location. On nuclear power generation, the REL chief said, "We are keenly following the developments in this sector and will pursue growth opportunities at an appropriate stage." He said public-private partnerships should be seriously explored in the nuclear power sector. On the transmission front, Mr Anil said the company had participated in the international competitive bidding process of Power Grid Corporation of India for choosing a joint venture partner for setting up transmission lines for the Parbati and Koldam hydro-electric projects in Himachal Pradesh. "I am happy to inform that the company has been selected as the preferred bidder and the transaction documents finalised," he said, adding that the company has applied to the Central Electricity Regulatory Commission to obtain transmission licences to undertake seven schemes and packages for strengthening the transmission system in the western region. "We have planned investments of about Rs 5,000 crore for undertaking transmission projects in the western region," he said. The company is exploring a comprehensive transmission network covering northern India for evacuation of power from its Dadri power project.
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