The Hindu : Business : Five companies bid for Tilaiya UMPP

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Wednesday, Dec 31, 2008
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Five companies bid for Tilaiya UMPP

Special Correspondent

NEW DELHI: Five companies, including State-run National Thermal Power Corporation (NTPC) and Reliance Power, Jindal Power, Sterlite Energy and Lanco Infratech have submitted bids for the long delayed 4,000 MW Tilaiya Ultra Mega Power Project (UMPP) in Jharkhand. Official sources said the process of selecting the final developer of the UMPP was likely to be finalised in 15 days.

Investment

The qualifying technical bids had already been opened and the final financial bids would be opened within 15 days, they said. The project entails an investment of around Rs. 18,000 crore. Interestingly, giving up its earlier reluctance, NTPC opted to bid for the prestigious project in Jharkhand. Keeping in mind the sensitive nature of the location of the UMPP, only five out of the 11 pre-qualified bidders submitted their bids. As per the procedure outlined by the Power Finance Corporation (PFC), the nodal agency for implementing the project, the companies have to produce details such as the schedule of the project’s commissioning date and a minimum bid guarantee of Rs. 120 crore. The project has been faced with delays and controversies forcing the postponement of bidding process nearly four times.

Other UMPPs

The Government has also decided to get going with the setting up of other three UMPPs in Tamil Nadu, Maharashtra and Orissa.

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