Reliance Power wins bid for mega project

Thursday, 29 November 2007, 08:00 Hrs
Printer Print Email Email
New Delhi: Anil Ambani-owned Reliance Power has won the bid for the 4,000-MW Krishnapatnam power project in Andhra Pradesh, said a top Indian official here Thursday.

Reliance has emerged as the lowest bidder by quoting a tariff of 2.33 per unit of electricity, Power Secretary Anil Razdan told media persons on the sidelines of an oil and gas seminar.

Reliance has already been awarded the 4,000 MW Sasan power project in Madhya Pradesh, after the lowest bid by the Lanco-Globeleque consortium was declared illegal by an empowered group of ministers.

Razdan also confirmed that the power ministry would not prevent Reliance Power from participating in bidding for other "ultra mega power projects (UMPP)" such as the one proposed at Tilaiya in Jharkhand.

"The power ministry would not amend bidding criteria to prevent one developer bagging more than two projects under the UMPP scheme. However, performance guarantee will be made more stringent in order to optimise the possibility of developers defaulting and projects getting stuck," he said.
Source: IANS
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..