 "Gayatri Projects gains on commencement of unit II of Thermal Powertech")
Gayatri Projects has moved higher by 5% to Rs 459 on the BSE after the company announced that Thermal Powertech Corporation India (TPCIL) - a joint venture between Gayatri Energy Ventures Pvt. Ltd., & SembCorp, has successfully commenced full commercial operations, following the completion of its second 660-megawatt (MW) unit in Krishnapatnam, Andhra Pradesh.
The 1,320-megawatt coal-fired power plant comprises two units of 660 MW each.
The first phase of the approximately US$ 1.5 billion coal-fired power plant, commissioned earlier this year generated more than 800 mn units during the quarter ended June 30, 2015, Gayatri Projects said in a statement.
Power being generated from 660 MW Phase II is also largely sold out to existing customers and longer term arrangements are in the process of being firmed up. TPCIL has also secured a fuel supply agreements with Mahanandi Coal Fields and Indonesia-based PT Bayan Resources for the supply of coal to its power plant, it added.
The stock opened at Rs 443 and hit a high of Rs 465 on the BSE. A combined around 125,000 shares changed hands on the counter on the BSE and NSE till 11:37 AM.
The 1,320-megawatt coal-fired power plant comprises two units of 660 MW each.
The first phase of the approximately US$ 1.5 billion coal-fired power plant, commissioned earlier this year generated more than 800 mn units during the quarter ended June 30, 2015, Gayatri Projects said in a statement.
Power being generated from 660 MW Phase II is also largely sold out to existing customers and longer term arrangements are in the process of being firmed up. TPCIL has also secured a fuel supply agreements with Mahanandi Coal Fields and Indonesia-based PT Bayan Resources for the supply of coal to its power plant, it added.
The stock opened at Rs 443 and hit a high of Rs 465 on the BSE. A combined around 125,000 shares changed hands on the counter on the BSE and NSE till 11:37 AM.
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