Financial Daily from THE HINDU group of publications
Monday, Jul 11, 2005
Industry & Economy
PPA signed with NPCL for Padubidri power plant: Gowda
Mangalore , July 10
THE former Prime Minister, Mr H.D. Deve Gowda, has said that the Karnataka Government has signed a power purchase agreement (PPA) with the Nagarjuna Power Corporation Ltd (NPCL), for purchasing power from its proposed coal-based thermal power plant at Padubidri in Udupi district.
Addressing presspersons here on Sunday, Mr Gowda said that the Union Government has given all clearances to the project.
When inquired, one of the company sources said, "Whatever Mr Gowda said is correct."
The company intends to supply power at Rs 2.10 a unit in the first year of production. NPCL's proposed plant in Padubidri will have a production capacity of 1,015 MW.
Stating that the shortage of power has affected the State badly, Mr Gowda said Karnataka needs around 8,000 MW of power.
Many other States in the country have several mega power projects.
Mr Gowda said that he wanted Dakshina Kannada district to become second industrial hub in the State during his tenure as Chief Minister.
Stating that the agriculture sector is facing problems in the country, he urged the Union Government to tackle the problems of farmers.
The Karnataka Tourism Minister, Mr D.T. Jayakumar, who was present at the press conference, said that the State Government would give thrust for coastal tourism.
The Government would take up beach development along 315 km off the Karnataka coast.
The Government has submitted a Rs 611-crore proposal to the Union Government to develop tourism in the State, he added.
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