MoU signed for 10,000 mw power plant, sea port in West BengalOctober 16th, 2008 - 11:52 pm ICT by IANS
Kolkata, Oct 16 (IANS) Universal Success, promoted by NRI industrialist Prasoon Mukherjee, Thursday signed a memorandum of understanding with the West Bengal government for setting up a 10,000 MW power plant and a sea port with a total investment of Rs.600 billion spread over 10-12 years.The port would require an investment of Rs.50 billion and would be used to import coal from Indonesia, Mukherjee told reporters after inking the deal at the state secretariat Writers Buildings.
Mukherjee said the projects would come up in phases. “The first phase will see an investment of Rs.160 billion for constructing a 200 MW power plant and the port, which will handle 30 million tonnes of coal annually for the power plant”.
About 1,000 acres would be needed for the first phase, and DCPL has been appointed for compiling the feasibility report and identifying the land.
“The state government will act as a facilitator in the process of land acquisition. DCPL will identify three-four locations where we can construct the port and the plant,” he said.
Keeping in mind the opposition in the state to land acquisition for industries, Mukherjee said: “Land will be acquired only in areas where people are willing to have the project”.
Mukherjee said the groundwork would begin within a year, and construction would start within two years of land acquisition.
“Funds won’t be a problem. Power and infrastructure projects will have enough funding despite the liquidity crunch,” he said.
The project will be commissioned in four years, and the plant would use sea water after desalination.
Mukherjee said the debt equity ratio for the project was yet to be finalised, and the generation cost still not worked out.