Business Daily from THE HINDU group of publications
Tuesday, Jan 30, 2007
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Business Daily from THE HINDU group of publications Tuesday, Jan 30, 2007 ePaper |
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Industry & Economy
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Power States - Other States GMR inks pact with Arunachal for 160 MW hydro power project Our Bureau
The agreement entails implementation, operation and maintenance of the 160 MW Talong power project in Seppa district on River Kemeng. The plant, to be built at a cost of Rs 900 crore, is to be commissioned by end of 2011. This project was awarded on competitive bidding basis. The project is in an advanced stage of development and subject to clearances from the appropriate authorities, the construction work is expected to commence in a year's time, GMR said in a statement. GMR has offered 14 per cent of free power to Arunachal Pradesh and two paisa per Kwh as additional benefit to the State. The company has also offered 12 per cent of equity to the State in the hydropower company. Arunachal Pradesh has the right to purchase power from the project over and above the free power availed by it. The tariff shall be fixed by CERC. "The first year tariff is expected to be most competitive and affordable, which is far below the present power rates from the north-eastern sector," the statement said. GMR Energy, part of the GMR Group, currently has a generating capacity of 800 MW and aims to become a 3000 MW company by 2010-11, it said.
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