The financial institutions have pulled the plug on five power projects with a total investment of Rs 15,990 crore. The institutions led by the Industrial Development Bank of India and ICICI have decided to cancel the sanctions to these power projects that envisaged a total power generating capacity of 3,079 mw.
Leading the pack in terms of sheer size is the 1,050 mw North Madras power project promoted by the Videocon group. Also included in the casualty list is the Reliance-promoted 447 mw Patalganga project in Maharashtra.
The other projects whose sanctions have been cancelled include the RPG group-promoted 500 mw Balagarh project in West Bengal; the BPL group promoted 520 mw project in Andhra Pradesh and the GVK group