Bangalore-based GMR Group and CPL Power India, (CPL's wholly owned Indian subsidiary) have signed an MoU to jointly bid and co-develop the 4,000 MW Sasan ultra mega power project in Madhya Pradesh.

Both the CPL and GMR will have a 50:50 ownership in the project and work on the project is likely to commence by 2007.

The ministry of coal has already earmarked a captive coal block for the project, with 20 million tonnes of reserves. The consortium will actively consider getting in cheaper Chinese super critical technology through CPL.

The group has also entered into an agreement with Tasmania's largest hydropower developer, Hydro Tasmania, for a 140 MW hydel project near Badrinath and is in talks with KEC International to bid for the western grid strengthening project which is to be developed as a 100 per cent private initiative.

Also See:

RfQs for Sasan power project (31-Mar-06)

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