Tamil Nadu gets 1,000 MW power plantApril 25th, 2008 - 7:23 am ICT by admin
New Delhi, April 24 (IANS) The cabient Thursday approved setting up a 1,000 MW coal-based thermal power plant at Tuticorin in Tamil Nadu, which will meet the rising demand of the southern region. The plant would be set up by NLC Tamil Nadu Power Limited, a joint venture of the Neyveli Lignite Corporation (NLC) and the Tamil Nadu Eelectricity Board (TNEB).
Information and Broadcasting Minister P.R. Dasmunsi said the new plant would be set up at an estimated cost of Rs.49.09 billion on April 2007 price level (PL) with interest during construction (IDC) of Rs.5.97 billion and foreign exchange (FE) component of Rs.7.16 billion (equivalent to $169.884 millions).
He said that approval for the formation of the joint venture firm was granted as per the memorandum of articles (MoA) and articles of association (AoA) with shareholding of 89 percent of the equity capital by NLC and 11 percent by the TNEB.
“The power generated from the project will cater to the demand of the states in the southern region,” Dasmunsi said.
Tags: aoa, april 24, articles of association, coal, equity capital, foreign exchange, idc, joint venture, memorandum of articles, moa, New Delhi, neyveli lignite corporation, neyveli lignite corporation nlc, pl, shareholding, thermal power plant, tneb, tuticorin, venture firm