| The project is expected to be completed in the next 30 months. |
| This power project was supposed to be taken up KRIBHKO and Gujarat Power Corporation Limited (GPCL) as part of the memorandum of understanding (MoU) signed in 1999, which has ended now. |
| On Sunday, the chief minister of Gujarat has directed the GSPCL, a state government enterprise to undertake the charge of gas based 615 mw power project at Pipavav in a high level meeting. |
| "The term of the MOU signed in 1999 between GPCL and KRIBHKO has ended now. Meanwhile, natural gas has not been available for fueling the power plant. In view of Gujarat Power Corporation being a state government enterprise and availability of 125 hectare land with it, we have asked GSPC to take the lead of the project," Saurabh Dalal, Gujarat minister for energy and power, said on Tuesday. |
| "Earlier, GSPC has completed a power project within 17 months and now we have asked GSPC to take the challenge and complete the Pipavav project in the next 30 months. The project, worth Rs 1800 crore, will generate a unit with cost of Rs 2.50 to Rs 2.60 with the utilisation of natural gas as a fuel. GSPC is playing a pivotal role in development of the gas sector and the economy of the state is taking a big leap on the basis of availability of gas. "We have asked GSPC to set up the 615 MW gas based power project as soon as possible to help Saurashtra region.," said Dalal. |
| It is believed that the decision of assigning this power project to GSPC will bring certainty for people in Saurashtra and boost the economic growth of the region. |
| GSPC has recently discovered the largest reserves of natural gas in the Krishna Godavari basin, which is so far the biggest in the country. The initial testing results indicate estimated reserves of over 20 trillion cubic feet (TCF) of natural gas with a value of approximately Rs two lakh crore. |
Top Section
Explore Business Standard