Power News We love to talk!

APR 11 2012

NMDC eyes partner to develop captive power project

  • Economic Times, ET Bureau / Hyderabad
  • Created: Wed 11th APR 2012

State-run NMDC has appointed PFC Consulting for selecting a partner to develop a captive power project for its upcoming steel plant in Chhattisgarh.

“PFC Consulting has been given the job of advicing NMDC for selecting the joint venture partner to execute the captive power plant which would meet the needs of the state-run iron-ore miner’s plant in Chhattisgarh,” a source close to the development told PTI.

The other modalities of the joint venture partnership like equity participation by the partner etc. are yet to be worked out.

NMDC has a mining capacity of around 30 million tonnes per annum. It is spending over Rs 3,000 crore for its upcoming 3 million tonnes per annum capacity steel plant at Nagarnar in Chhattisgarh.

The plant will get iron ore from company’s existing mines at nearby Bailadila, while the coking coal is planned to be imported. This plant is likely to be commissioned by 2014.

PFC Consulting, a wholly-owned subsidiary of Power Finance Corp, was formed in 2008 with the aim of providing consultancy services in the power sector and related areas.

It is mandated to promote, organise and carry on consultancy services to the power sector and is also undertaking the work related to the development of ultra mega power projects (UMPPs).

The company also works as a bid co-ordinator for selection of developer for the independent transmission projects.

Meanwhile, PFC Consulting is looking to tie-up with a global partner for its consultancy business and expand it overseas.

Tags

Power Finance Corporation Finance NMDC Ultra Mega Power Project Power

Related News

  • Govt cancels mine allotted for Reliance Powers Sasan project  Read more
  • 10,000 electric cars highlight steep path to India's ambitions  Read more
  • IFC to invest $125 million in Hero Future Energies  Read more
  • UDAY could help pare discom losses but bringing them down to zero might prove elusive  Read more
  • Challenges galore for Indias clean energy industry  Read more
  • Edelweiss arm eyes Rising Suns 140MW solar assets  Read more
  • Reliance Power eyes stressed thermal coal-based assets to boost growth  Read more
  • Higher capex bumped up states' deficits to 12-year high to 3.6 per cent  Read more
  • Ex-ONGC chief Dinesh K Sarraf appointed oil & gas regulator  Read more
  • Ministry seeks Rs 10,830 cr for power reforms scheme in 12th Plan  Read more