The financial institutions have pulled the plug on five power projects with a total investment of Rs 15,990 crore. The institutions led by the Industrial Development Bank of India and ICICI have decided to cancel the sanctions to these power projects that envisaged a total power generating capacity of 3,079 mw.
Leading the pack in terms of sheer size is the 1,050 mw North Madras power project promoted by the Videocon group. Also included in the casualty list is the Reliance-promoted 447 mw Patalganga project in Maharashtra.
The other projects whose sanctions have been cancelled include the RPG group-promoted 500 mw Balagarh project in West Bengal; the BPL group promoted 520 mw project in Andhra Pradesh and the GVK group
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app