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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

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