Meeting discusses Sasan project developments

The board of Sasan Power Limited, the shell company formed to kick-start the 4,000 Mw Sasan ultra mega power project, met today to "take cognisance" of the latest developments, sources said.

The project got mired in controversy since there was a change of partners in the consortium which won the bid to build the Rs 16,000 crore project.

It was initially awarded to the Lanco-Globeleq consortium, which agreed to supply power at Rs 1.196 per unit. However, Globeleq later sold its 70 per cent stake to Lanco and Jindal, one of the unsuccessful bidders, leading to legal complexities.

"There are multiple legal opinions floating around, some provided by the companies themselves," said an official close to the development.