U.S. to invest in Indian power sector

U.S. to invest in Indian power sector

By agencies   |   Thursday, 27 April 2006, 07:00 Hrs
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WASHINGTON: Several US power companies such as GE and Caterpillar have evinced interest in investing in ultra-mega power projects, which India plans to build in the coming years.

In his presentation at the Indian Embassy here after completing the Washington DC part of a multi-city Road Show in the United States and Canada, Union Minister for Power Sushil Kumar Shinde said his Ministry is in the process of setting up Seven Ultra Mega Power Projects of 4000 MW each in India.

Two of these projects will be coal pithead based plants and three coastal plants based on imported coal. The projects will be in the states of Maharashtra, Madhya Pradesh, Chattisgarh, Gujarat and Karnataka.

The Ministry of Power is inviting private investment including from the US in these shell companies, with the process of selection of private investors in these companies to be completed by January 2007.

The Minister met with representatives of the American industry at the US Chamber of Commerce in Washington where a large number of power sector companies, including GE, ABB, Caterpillar, AES participated.

These American companies have shown interest in participating in the initiative. Shinde also met US Energy Secretary Samuel Bodman on Wednesday.

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