Tata Power Co (TPC) will be signing an
agreement on 24 April, 2007 for taking over the Coastal Gujarat Power, a special
purpose vehicle that has been formed by the Power Finance Corporation (PFC) for
the 4,000 MW Mundra UMPP.
On 28 December, 2006 the power
ministry had awarded the letter of award to TPC for emerging as the lowest
bidder at Rs.2.26 per unit for the Mundra project .
TPC was to take over the Coastal
Gujarat Power in February 2007 as per the original schedule but had to wait
further due to delays in the completion of necessary formalities of land
acquisition and also in getting necessary approvals from the environment and
coastal regulatory zone.
Also See:
PFC to
transfer Mundra UMPP shell company by May (7-Apr-07)