Madhucon bags 75Mw hydro power projects

Madhucon Projects Limited, a Hyderabad-based infrastructure development company, has bagged three hydro power projects aggregating 75 Mw, with a scope to expand to 100 Mw, from the Uttarakhand Jal Vidyut Nigam Limited.

To be executed on a build, operate and transfer (BOT) basis, the projects include development of the Agastyamuni, Tilwara-I, and Tilwara-II  hydro power projects, with a capacity of 25 Mw each, in the tributary Mandakini of River Alaknanda in Rudrapryag district.

“Madhucon will be operating these projects for a period of 35 years and the detailed project reports are in the process of preparation,” the company said in a filing to the Bombay Stock Exchange (BSE) on Monday.

Madhucon, through its associate company Madhucon Sugar and Power Industries Limited, is already operating a 24-Mw co-generation plant near Khammam district of Andhra Pradesh. Through its subsidiary Simhapuri Energy Private Limited, it is setting up a thermal power plant of 1,920 Mw at Tamminapatnam and Mommidi villages in Nellore district in four phases.

“Construction of Phase-I of 300 Mw is in full swing, and will be commissioned by February 2011. The financial closure for Phase-II of 300 Mw is in advance stage, and will be commissioned by July 2012. Environmental clearance process for Phase-II of 660 Mw is under way. This thermal power plant will b operated on imported coal and a major part of the coal will be sourced through Madhucon’s coal mine in Indonesia,” the company said.

Madhucon’s subsidiary PT Madhucon Indonesia has been given licence of 10,000 hectare and all initiatives are in the final stages for commencing coal production at the coal mine in south Sumatra, which has reserves of 900 million tonne,  before March 2010.

The company has also drawn plans for setting up gas-based power plants in 2 states and the planning is in advanced stage. The company plans to set up a 5,000-Mw power generating facility within the next five years, the company added.

The scrip of Madhucon is currently trading at Rs 161.90 on the BSE, up 3.58 per cent, as against the previous close of Rs 156.30.