Agartala, Aug 13 (UNI) The ONGC Tripura Power Company Pvt Ltd (OTPC) has signed a contract of Rs 2,200 crore with the Bharat Heavy Electricals Ltd (BHEL) for setting up 726.6 MW capacity Combined Cycle Gas Turbine (CCGT) based power project in Palatana of South Tripura.
ONGC officials said here today that the Chief Executive Officer of the OTPC and the General Manager (Marketing) of the BHEL signed the contract on August 11 at New Delhi and the formal contract follows the letter of award placed by the OTPC on BHEL on June 23.
This 363.3X2 MW combined cycle gas turbine power plant would be developed by the OTPC at Palatana in South Tripura at 50 per cent equity stake in OTPC, 26 per cent by Infrastructure Leasing and Financial Services Limited (IL&FS) and 0.5 per cent by the Tripura government while the rest 23.5 per cent would be tied up through the most optimal modes.
The initiative of the ONGC was expected to transform the power scenario of the entire North-Eastern Region and catalyse rapid economic development of the region, officials said, adding that the generation project, combined with linked transmission project and upstream gas supply project, was slated to bring in investments of around Rs 9,000 crore in the region.
The officials pointed out that the project, with its fuel-efficient advanced class CCGT units, would cater to increasing power appetite of NE states and OTPC and BHEL had drawn up an ambitious plan of completing the project in the 11th Five Year Plan.
For evacuating power from generators, a trunk transmission line is being developed by another Special Purpose Vehicle (SPV), jointly promoted by the Power Grid Corporation Ltd (PGCL), OTPC and the North Eastern Region (NER), they added.
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