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JPL, IL&FS evinces interest in NMDC's Uttar Padesh power plant

Tuesday, 04 Jun 2013
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Jindal Power (JPL) and IL&FS Energy Development Company, have individually evinced interest to partner NMDC in its thermal power plant in Uttar Pradesh.

The 2X250 MW thermal power facility is estimated to cost Rs 2,000 crore. JPL and IL&FS have been found to be eligible on technical and financial criteria laid out in the EoI.

In January, 2013, NMDC had invited EoIs to draw in a strategic JV partner for the power plant, which would mark its venture into the power sector. As per the EoI, NMDC would offer a minimum of 49 per cent stake and a maximum of upto 74 per cent in the project, to the strategic partner for its successful implementation. Scope of the work involves arranging coal for the power plant either through purchase, auction or long-term Fuel Supply Agreement. However, NMDC is likely to arrange coal for the power plant from the Shahpur East and Shahpur West blocks in Madhya Pradesh at the prevailing price.

The new project will be set up in phases. The generated power from the plant will be used for plugging the demand-supply gap of the state and transmitting the balance to power its upcoming three million tpa steel plant at Nagarnar in Chhattisgarh.

The company has identified a site in Uttar Pradesh for the proposed power plant.



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