GMR to bid for mega power projects

The Bangalore-based GMR Group has tied up with the China Light and Power Company to bid for the proposed five ultra mega power projects in the country.

The group recently signed a memorandum of understanding with the Hong Kong-based company.

"We have decided to participate in the bidding process. We are hopeful of securing a couple of deals," GMR Group's top representative told reporters here on Wednesday.

The ultra mega power projects, located in various parts of the country, including one at Tadadi in coastal Karnataka, are aimed at generating a combined 18,000 mw of power.

"An investment of Rs 16,000 crore is required for each project. We have already made our intentions clear to the government on these projects," he added.

He stated that GMR group's joint venture with the China Light and Power Company would be applicable only for the ultra mega power projects.