Tuticorin power project financial closure achieved

October 10th, 2009 CHENNAI - The state-run Neyveli Lignite Corporation Limited (NLC) has sought the central government's permission to commission a 250-MW power project in Rajasthan, a company official said. The company already has a mandate to build two 125 MW project at Barsingsar village in Rajasthan.

October 1st, 2009 NEW DELHI - GAIL India has achieved financial closure for its petrochemical plant in Assam, company chairman B.C. Tripathi said Thursday.

September 10th, 2009 SHIMLA - Satluj Jal Vidyut Nigam, a state-owned power utility in Himachal Pradesh, has shut down the 1,500 MW Nathpa Jhakri power project in Kinnaur district after the level of silt in the Satluj river rose suddenly. The closure has affected the supply of electricity to other states in north India, including Delhi.

July 27th, 2009 NEW DELHI - The Reliance Anil Dhirubhai Ambani Group has tied up finances for its 300 MW power plant at Butibori in Mahrashtra and expects the project to be operational by 2011-12, it said in a statement Monday. Announcing the financial closure with Axis Bank as the lead institution, the group said that the project would meet the power requirements of Butibori, Hingna and other industrial areas in Maharashtra.

July 14th, 2009 NEW DELHI - The Reliance Anil Dhirubhai Ambani Group has tied up the finances for the Rs.50-billion ($1-billion) Rosa power project in Uttar Pradesh and hopes to start the first phase of operations this year. Announcing the financial closure with IDBI Bank as the lead institution, the group said the project, coming up in Shahjahanpur district, some 180 km from state capital Lucknow, would supply 900 MW to the state-run Uttar Pradesh Power Corp.

July 7th, 2009 HYDERABAD - The Andhra Pradesh government Tuesday said it has cancelled the Hyderabad Metro rail project contract awarded to Maytas Infra, run by the family of former Satyam chairman of B. Ramalinga Raju.

June 22nd, 2009 CHENNAI - Energy-starved Tamil Nadu wants a higher share of power that will be generated by the joint venture it has set up with mining and power company Neyveli Lignite Corp (NLC). A similar demand had earlier been raised by Gujarat, where NLC proposes to set up a 1,000 MW plant at Valia, also in joint venture with that state's power board.

June 20th, 2009 CHENNAI - Mining-cum-power company Neyveli Lignite Corp (NLC) is planning to enter hydel, wind and nuclear power generation, a top official said here Saturday. "We are interested in setting up a 1,000-MW hydel power project in Uttarakhand partnering with the state government.

June 19th, 2009 NEW DELHI - The Cabinet Committee on Economic Affairs (CCEA) Friday gave go-ahead to the 100-MW Tripura gas-based power project, to be developed by the state-run North Eastern Electric Power Corp (Neepco). The estimated cost of the project is Rs.421.01 crore.

June 18th, 2009 HYDERABAD - Maytas Infra has requested the Andhra Pradesh government for an extension of time for the Rs.8,132-crore Hyderabad Metro Rail project, the company said Thursday. The city-based infrastructure company's statement comes amid reports that the state government has decided to scrap the agreement it signed with a Maytas-led consortium last year in view of its "incapability" to achieve financial closure.

March 31st, 2009 SHIMLA - Hydroelectric power generation at the 1,500-MW Nathpa-Jhakri project in Himachal Pradesh touched a record 6,600 million units this financial year, officials said Tuesday. 'The Nathpa-Jhakri station has achieved a record generation of 6,600 million units in 2008-09,' H.K.

March 2nd, 2009 CHENNAI - Neyveli Lignite Corp (NLC) will go ahead with its 1,000-MW power project in Tuticorin in Tamil Nadu despite a legal tussle over part of the project land between SPIC Electric Power Corp and the Tuticorin Port Trust, a top official said. 'NLC or its power subsidiary will not be affected by the land dispute.

February 28th, 2009 CHENNAI - External Affairs Minister Pranab Mukherjee will Saturday lay the foundation stone for Neyveli Lignite Corp's (NLC) 1,000-MW thermal power plant in Tuticorin. 'The Rs.59-billion (Rs.5,900 crore) project has a couple of special features like the reverse osmosis desalination plant, gas insulation switchyard and pile foundation apart from NLC's first venture into power generation with coal,' NLC chairman and managing director A.R.

February 26th, 2009 CHENNAI - With its Indian client base increasing, Chinese power equipment manufacturer Harbin Power Engineering is considering setting up a service centre in Tamil Nadu, said a top company official. 'We have orders worth $450 million in India.

February 26th, 2009 CHENNAI - The city-based Coastal Energen, the Indian arm of Coal and Oil group of Dubai that is promoting a Rs.45-billion (Rs.4,500-crore) thermal power plant in Tuticorin, hopes to achieve financial closure within two months, said a top company official Wednesday. 'We are talking with an 18-bank consortium led by State Bank of India.