Bjp Spikes Upseb, Hyundai Tieup For Power Plant

The proposed joint venture between the Uttar Pradesh State Electricity Board (UPSEB) and Hyundai Corp of Korea for setting up a 1,000 mega watt power plant has been called off.

The power plant, christened

as Anpara C, has become a victim of the tussle between the Bharatiya Janata Party (BJP) and Bahujan Samaj Party (BSP), the coalition partners in Uttar Pradesh government.

The project, proposed to be set up at an estimated cost of Rs 3,824 crore, is not unfavourable to the state power utility the debt-equity ratio is 7:3.

Of the total equity of Rs 1,050 crore, UPSEB was to contribute Rs 225 crore by way of providing facilities already existing and the rest of the equity of Rs 725 crore was to come from Hyundai.

 

The Bharatiya Janata Party had stated in its election manifesto that it will make an effort to set up Anpara C like Anpara A and B. BJP leaders told Business Standard that Mayawati has turned the project into a means to fill her coffers.