Reliance plans world's largest gas based power project

Wednesday, 28 January 2004, 08:00 Hrs
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NEW DELHI: India's conglomerate Reliance Industries Tuesday announced plans to set up the world's largest gas based power project in Uttar Pradesh with over 100 billion investment.

"This project, to be developed in phases, will also be the largest power generating plant in the country at a single location," Uttar Pradesh Chief Minister Mulayam Singh Yadav told reporters after a meeting of the state's Development Council in New Delhi.

The 3,500 MW project, based on domestic natural gas, is expected to bring substantial benefit to millions of consumers in northern India, particularly in the country's most populous state of Uttar Pradesh.

The announcement by the company "is a strong vote of confidence in the state of Uttar Pradesh and endorsement by Reliance of the torch-bearer state power policy", the chief minister said.

Since power was the essential pre-requisite of overall socio-economic development, it would act as a catalyst to the overall development and growth of Uttar Pradesh and would benefit over 170 million population in the state, Yadav said.

Making the announcement, Anil D. Ambani, vice-chairman of Reliance Industries Limited and chairman and managing director, BSES Limited, said the project would be the "single largest investment across any sector in the state of Uttar Pradesh".

The first phase would be completed in three years from the time of start.

The project would represent "an end-to-end integration in the energy value chain right from '(exploration) well head to wall socket' as the natural gas would be sourced from Reliance group's Dhirubhai gas fields in the Krishna-Godavari basin, off the coast of Andhra Pradesh", Ambani said.

The fields, with over seven trillion cubic feet (TCF) of gas reserves, represent the largest discovery of natural gas globally in 2002-03 fiscal.

The project would also benefit millions of people in power-starved Delhi through BSES, which is one of the private sector power distributors in the capital, Ambani said.

Source: IANS
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