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| PSPCL allots 1350 MW coal-based power project to Indiabulls |
| Press Trust of India / Chandigarh Aug 13, 2010, 17:27 IST |
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Punjab State Power Corporation Limited (PSPCL) today said it has alloted a 1350 MW coal-based power project to diversified business entity Indiabulls with a capital outlay of nearly Rs 7,000 crore.
"The coal based power project has been allotted to Indiabulls, which will be set up in Mansa district of the state," Punjab State Power Corporation Limited (PSPCL) CMD K D Choudhri told reporters here.
The project would be set up in a phased manner, which would give boost to the energy generation programme of Punjab. "In the first phase, the company will set up two units of 270 MW each and thereafter, three units of 270 MW will be established," he informed.
According to Choudhri, the per MW cost of setting up a power plant stands at Rs 5-5.5 crore, which would estimate to about Rs 7,000 crore for the 1350 MW project.
PSPCL would be signing a MoU with Indiabulls within a week for setting up a power project in the state. "We are going to sign a MoU within 4 to 5 days in this regard with Indiabulls," he said.
The project has been proposed to be set up at Bhupli village in Mansa and will be spread over 600 acres of land. "Since this project is to be carried out by company itself, we (PSPCL) will not be acquiring land for it. But if they request us to do so then we will do it," Choudhri said.
However, PSPCL has allotted the power project to Indiabulls without carrying out competitive bidding process. "The project is allotted as per our new power generation policy, which does not require a bidding process," he said.
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