The Empowered Group of Ministers has deferred decision on the 4,000 MW Sasan UMPP till 24 July, 2007 and has also extended the bid validity to 5 August, 2007.

The EGoM meeting was held to take a decision on whether Lanco, which was awarded the 4000 MW UMPP last year, violated bidding norms. The award was challenged by other contenders when Lanco's foreign partner Globeleq sold its 70 per cent stake in the joint venture to Lanco and Jindal Steel and Power after winning the bid.

EGoM was constituted by the Union government to eliminate delays due to technical and legal issues in the implementation of UMPP. Sasan project was handed over to the EGoM when the ministry of power and the PFC failed to decide on fate of the project. PFC is the nodal agency for implementation of UMPP.

Lanco Infratech, Reliance Energy and NTPC Ltd have already extended the bid bond validity for the Sasan project by one month to 4 August, 2007.

Also See:
Lanco bid for Sasan UMPP termed "invalid"

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