GMR Infra surges over 10% on synchronizing Chhattisgarh power unit

The stock rallied 12% to Rs 19.90 on National Stock Exchange.

GMR Infrastructure has surged 12% to Rs 19.90 on National Stock Exchange (NSE) after the company said the first unit of 1370 MW Chhattisgarh supercritical thermal power plant synchronized.

The first 685 MW unit of GMR Chhattisgarh Energy Limited’s (GCEL) 1370 MW supercritical coal-based thermal power plant at Raikheda in Chhattisgarh’s Raipur district has successfully achieved synchronization with the grid on 2nd October, 2014, GMR Infra said in a press release.

GCEL is the GMR Group’s first supercritical coal-based thermal power plant. The unit used fuel oil to achieve this first synchronization. The project has been implemented on multiple packages concept by Doosan of Korea. Work on commissioning GCEL’s second unit of 685 MW is in progress.

Since 2013, the GMR Group has commissioned two coal-based thermal power plants – the 2x300 MW GMR’s EMCO Energy Limited at Warora in Maharashtra and three units of the 4x350 MW GMR Kamalanga Energy Limited at Kamlalanga in Odisha.
 

The GMR group had signed the MoU with the Government of Chhattisgarh for the power plant in 2008 and received Environment Clearance and Consent to Establish in 2011. Besides Chhattisgarh, GCEL will cater to the power needs of various states in the country, GMR Infra said in a statement.

A combined 25.59 million shares changed hands on the counter so far on NSE and BSE.