Reliance Among 10 Power Projects Cleared By Fipb
The Foreign Investment Promotion Board (FIPB) on Saturday cleared 10 liquid fuel-based power projects worth a total investment of over Rs 7,000 crore envisaging a total generating capacity of nearly 2,000 megawatt.
The cleared projects include Reliance Industries Ltd's 410-megawatts (mw) unit at Patalganga in Maharashtra, Wasan Export's 335-mw plant at Kosikalan in Uttar Pradesh and the Pulakeshi Power Company's 500-mw project in Karnataka.
However, the FIPB rejected RPG Enterprises' 455-mw project at Kasargod in Kerala on the ground that a change has been sought in the fuel base from coal to naphtha. The project was being developed by Kasargod Power Corporation, a firm promoted by the RPG Enterprises.
Decision on Essar's 330-mw project at Bandher in Madhya Pradesh and Ispat Industries' plan has been put off as the power ministry is yet to recommend the fuel linkages for these projects.
The FIPB also deferred its decision on Gwalior Power, Palakkad Power Generating Co, Windogen, ESB Power Systems, Kumar Energy Corporation and Suryachakra Goup's proposal at Visakhapatnam.
Other projects that were cleared include 100-mw Peenya project in Karnataka; Global Board Ltd's 150-mw, Rs 500-crore project at Narsingpur in Madhya Pradesh; Indo Cal Power Venture's 100-mw, Rs 409.5-crore project at Jodhpur in Rajasthan; Tanir Bavi Power Co's $160-million barge mounted 170-mw project near Mangalore in Karnataka; ST Power Systems' 25-mw, $20 million project at Jodhpur in Rajasthan and Independent Power Service Corporation's Rs 390-crore, 100-mw unit at Mysore in Karnataka.
All the 10 projects have been cleared on the basis of power ministry's recommendations on fuel linkage allocations received from the respective state governments.
However, the projects are yet to receive the final decision on the linkages from the ministry of petroleum and natural gas and are currently awaiting industry minister's approval.
At its meeting on April 5, the FIPB had taken up 23 foreign direct investment (FDI) proposals in the power sector for consideration.
Some of these proposals for the power projects had been on hold for some time as the fuel linkages were not specified by the state governments and the power ministry.