Reliance signs pact with Uttar Pradesh for gas project

Thursday, 17 June 2004, 19:30 IST
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NEW DELHI: Reliance Energy, a private sector power utility and an arm of business conglomerate Reliance Industries, Wednesday signed a pact with the Uttar Pradesh government for a mega power project. Reliance had announced in January that it planned to set up a 3,500-mega watt gas-based power generation plant at Dadri in Ghaziabad district of western Uttar Pradesh. To be set up with an investment outlay of over $2.4 billion, the power project is expected to bring substantial benefits to millions of consumers in northern India and particularly in Uttar Pradesh. The project, to be developed in phases, will be the country's largest power generating plant at a single location. Reliance Energy informed the Bombay Stock Exchange Wednesday that a "state support agreement" for the project had been signed between the Uttar Pradesh government and Reliance in Lucknow. "Uttar Pradesh, reeling under acute power shortages would be the major beneficiary from the project as 1,500-mega watt power from the plant is committed to the state," said a company statement. The project will be based on natural gas, which is an environment friendly fuel producing clean green power, said the statement.
Source: IANS
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