Tata Power Company (TPC), the country's biggest private power utility, will raise up to Rs 14,000 crore in loans to fund the Rs 18,000 crore ultra mega power project at Mundra in coastal Gujarat.
The company has appointed SBI Caps as head arranger for the funds, S Ramakrishnan, the company's executive director (finance), said.The remaining Rs 4,000 crore would be funded by the company through internal resources.
Besides, the company is also in talks with Asian Development Bank (ADB) and International Finance Corporation (IFC) for raising a part of the Rs 14,000 crore.
The Tata group company is also considering the option of having the project part-funded by export credit agencies.
Showing posts with label Ultra Mega Power Project. Show all posts
Showing posts with label Ultra Mega Power Project. Show all posts
Thursday, May 31, 2007
Thursday, May 17, 2007
Tata Power signs $1 bn deal with Korean firm
Tata Power Company, which is developing India’s first 4,000 mw ultra mega power project (UMPP) in Mundra, today signed contracts reportedly worth $1 billion with Korea’s Doosan Heavy Industries & Construction Company for supply of super-critical boilers and development of ancillary civic structures.
The order, which includes five units of 800 mw each, comes about three weeks after the company formally took over the reins of the project in Gujarat, which is based on imported coal.
While the company has 64-69 months under the contract to commission the first unit, it expects to advance the schedules “ahead of the bid stipulation”. This means that the first unit would be commissioned within the 11th Plan period itself (2007-2012).
Tata Power bagged the Rs 16,000 crore Mundra project against competition from the likes of Sterlite, Adani, Essar, Reliance Energy and L&T by committing to supply power at the the lowest rate of Rs 2.26 a unit (a levelised rate for 25 years).
Read more in The Business Standard article.
The order, which includes five units of 800 mw each, comes about three weeks after the company formally took over the reins of the project in Gujarat, which is based on imported coal.
While the company has 64-69 months under the contract to commission the first unit, it expects to advance the schedules “ahead of the bid stipulation”. This means that the first unit would be commissioned within the 11th Plan period itself (2007-2012).
Tata Power bagged the Rs 16,000 crore Mundra project against competition from the likes of Sterlite, Adani, Essar, Reliance Energy and L&T by committing to supply power at the the lowest rate of Rs 2.26 a unit (a levelised rate for 25 years).
Read more in The Business Standard article.
Monday, April 2, 2007
Tata Power eyes overseas for JV
Tata Power Company is looking to form a joint venture with an overseas electrical equipment manufacturing company just two days after ensuring coal linkage for its ultra mega power project (UMPP) in Mundra and other projects in Maharashtra through a billion dollar transaction.
Prasad Menon, managing director TPC, told ET that the company is in talks with some potential partners and that a deal will be finalised before June 2007. TPC, the country’s largest private power producer with 2,300 MW, is in talks with Japanese companies such as Hitachi, Mitsubishi and Toshiba, said sources close to the development.
They added that TPC is weighing several options including a possible joint venture manufacturing facility in India as the company plans over 10,000 mega watt (MW) greenfield projects across the country. Mr Menon refused to divulge the name of the company.
Recently, TPC’s tie up with Siemens had broken down because Siemens opted to keep away from the aggressive bid for UMPPs. TPC has tie up with Korea’s Doosan Heavy Industries and Construction Company for super critical boilers.
Read more in The Economic Times article.
Prasad Menon, managing director TPC, told ET that the company is in talks with some potential partners and that a deal will be finalised before June 2007. TPC, the country’s largest private power producer with 2,300 MW, is in talks with Japanese companies such as Hitachi, Mitsubishi and Toshiba, said sources close to the development.
They added that TPC is weighing several options including a possible joint venture manufacturing facility in India as the company plans over 10,000 mega watt (MW) greenfield projects across the country. Mr Menon refused to divulge the name of the company.
Recently, TPC’s tie up with Siemens had broken down because Siemens opted to keep away from the aggressive bid for UMPPs. TPC has tie up with Korea’s Doosan Heavy Industries and Construction Company for super critical boilers.
Read more in The Economic Times article.
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