Reliance Power to get Krishnapatnam LoI

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New Delhi, Nov 29: Reliance Power, a ADAG company, which emerged as the lowest bidder for the 4,000 MW Krishnapatnam ultra mega power in Andhra Pradesh will receive the letter of intent (LoI) tomorrow, said Secretary (Power) Anil Razdan.

''The LoI will be given to lowest bidder will tomorrow,'' said Mr Razdan at the Petro India-2007 conference.

The company had placed a winning bid of Rs 2.33 per unit for the project, the third such after the Sasan and Mundra UMPPs.

Reliance Power has already bagged the contract for the UMPP in Sasan, Madhya Pradesh, while Tata Power will execute the other project in Mundra, Gujarat.

The Krishnapatnam project is to be operated on imported coal and would require an investment of more than Rs 16,000 crore.

Andhra Pradesh will receive 1,600 MW, while the stakes of Maharashtra, Tamil Nadu and Karnataka will be 800 MW each from the project.


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