The Hindu : Tata Power, Powergrid sign pact

Online edition of India's National Newspaper
Saturday, Jul 05, 2003

Business

Business

Tata Power, Powergrid sign pact

By Our Staff Correspondent

MUMBAI JULY 4. The Tata Power Company has signed a shareholders agreement with Powergrid Corporation for the 400 kV Tala transmission project, the country's first inter-State transmission project with private sector participation. This follows approval of the project from the Central Government.

The Tala-Delhi transmission project, spanning over 1,200 km of 400 kV transmission line from Bhutan to Delhi will facilitate evacuation of power from the 1,020 MW Tala hydroelectric project in Bhutan and carry surplus power from the Eastern grid to the power deficit Northern grid. Firdose Vandrevala, Managing Director, Tata Power Company, said, "Tata Power has inherent strengths and extensive capabilities in project management, operation and maintenance and has successfully completed various projects in the power sector, in India and abroad. We are privileged to be associated with Powergrid for the Tala transmission project, which will be the forerunner for future private-public sector partnerships".

R. P. Singh, CMD, Powergrid Corporation of India, said, "Powergrid's maiden joint venture transmission line project with Tata Power is the first of its kind in the country. This unique model of public-private partnership with selection of partner through transparent method of international competitive bidding will be a trendsetter for future private investments and could be emulated by other utilities internationally". The Tala project is expected to achieve financial closure by September.

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