Tata Power has pre-qualified for
setting up a power project in South Africa, according to reports. The 300 MW
project will cost around Rs.1,200 crore ($265 million).
The company will soon submit its bid
to the South African government agencies concerned. The project will be
implemented in joint venture with an international partner.
Background: In August 2005,
Tata Power had first indicated its plan of investing in overseas power
generation projects. South Africa was one of the countries mentioned since its
government is actively seeking private sector participation in developing power
projects. The Tata group is also planning a ferro chrome project in that
country.
Also See:
Tata Power to
invest Rs.18,500 crore in India, overseas (05-Aug-05)
Tata's overseas
ferro chrome project gets nod (20-Apr-06)