New Delhi, June 2 (UNI) The Delhi Cabinet today gave its nod to the financial pattern of the Pragati Phase-III Bawana Power Project wherein the project is to be commissioned with an estimated cost of Rs 5195.81 crore.
The 1500 MW Gas Based Power project, whose foundation stone was laid by Prime Minister Manmohan Singh on March 24 this year, would meet the growing demand of power in the Capital-city and cater to the requirements for the 2010 Commonwealth Games, Chief Minister Sheila Dikshit said after chairing the Cabinet meeting, where clearance for the financial pattern for the project was given.
Briefing mediapersons after the Cabinet Meeting, the Chief Minister said the Pragati Power Corporation Ltd. (PPCL) has taken up work of establishment of the 1500 MW Combined Cycle Gas Turbine Power Project.
The Delhi Government would release fund for equity of Rs 1558.74 crore which is 30 per cent of the total project cost. Rest of the amount would be met with a debt amounting to Rs 3637.07 crore by 50 per cent loan from Financial Institutions/Banks/Power Finance Corporation/Rural Electric Corporation and another 50 per cent from the Delhi Government.
Gas Sale Agreement with the GAIL (India) Ltd. IOC Ltd. and Bharat Petroleum Corporation Ltd. for supply of total 6 MMSCMD for a period of 15 years has already been signed.
The DTL would evacuate the power through its existing 400 KV Grid Station at Bawana.
The Chief Minister said the Bawana Power Station is an environment-friendly project, which would help in curbing the problem of pollution in Delhi.
Expressing confidence that commissioning of this project would go a long way in ensuring round-the-clock uninterrupted power supply in the city, Ms Dikshit said the prime objective of this mega power project is to improve the overall power supply position in Delhi, especially to enhance the present generation capacity within the Territory of Delhi.
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