Reliance Power to get LoI for Tilaiya project
NEW DELHI: A letter of intent, for the 4,000-MW Ultra Mega Power Project at Tilaiya in Jharkhand, will be issued tomorrow to Anil Ambani-led Reliance Power, which has emerged as the front-runner for the UMPP. “The LoI (letter of intent) for the Tila iya UMPP would be issued to Reliance Power tomorrow,'' said an official of Power Finance Corporation.
Reliance Power was the L1 (lowest) bidder for the Tilaiya UMPP in Jharkhand, for which the financial bids were opened on January 28, last month. This is the third UMPP to be bagged by Reliance Power. It has already been awarded the Sasan (Madhya Pradesh) and Krishnapatnam (Andhra Pradesh) projects. The project would entail an investment between Rs 16,000 and Rs 18,000 cr, to be developed on a debt equity ratio of 70:30.
The financial and technical bids for the coal-based thermal power project were invited on December 29, 2008, and the final financial bids were to be opened within 15 days. Five companies -- NTPC, Reliance Power, Lanco Infratech, Jindal Power and Sterli te Energy, of the 11 pre-qualified bidders submitted their bids for the project. – PTI
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