Greaves Pact With Elin

Elin Energieversorgung Gmbh, a leading Austrian firm, has tied up with the Thapar group to manufacture power generators for thermal and hydro projects.

The 50:50 joint venture between the Thapar groups Crompton Greaves and Elin -- named CG Elin Power Systems -- would come up in Mandideep, near Bhopal, the managing director of Elin India Private Ltd, Kurt K Stefan said. The plant is likely to be completed by the year-end and production will start in mid-1998. Elin will invest about 10 million dollars in the project, Stefan added.

The high tension power distribution generators would cater to the needs of public sector undertakings like National Hydro Power Corporation (NHPC), National Thermal Power Corporation (NTPC), various state electricity boards (SEBs) and other independent power projects, Stefan said.

 

He added that Elin would also like to go into building of power plants as India, along with China, would account for over 50 per cent of the growth in the power station sector in the next century.

Elin is a member of the UHL consortium which has entered into an understanding with the Thapar group for the execution of its 100 mw UHL hydro power project in Himachal Pradesh. The Australian company will supply generators once the project gets the clearance from the Central Electricity Authority (CEA).

Stefan said Elin hopes to corner about 10 per cent of the market share in the Indian power sector. He added that the company was planning to go in for a joint venture for power distribution with Thapars. The Austrian company also has interests metallurgy plants, high tension builders, software and technology.

He said, due to political uncertainty and decisions not coming fast, private producers in the country have not been able to capitalise on India's potential. We hope that something will move in this direction. We have come here with a long-term strategy and would like to become a multi-domestic company in India and play a major role in the power business, Stefan added.