Shinde assures JBIC talks on North Karanpur project

By Staff
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Google Oneindia News

New Delhi, June 26 (UNI) The Power Ministry will facilitate discussions between the Japan Bank for International Cooperation (JBIC) representatives and Indian stakeholders, to be held in New Delhi next month, to ensure that the North Karanpura project is implemented in a fair and transparent manner.

This was decided at a meeting between Union Power Minister Sushilkumar Shinde, who is heading a a high-powered delegation to Japan, and JBIC officials at Tokyo today where the latter sought an early resolution of the North Karanpura project.

Reviewing activities of JBIC in India, Power Secretary R V Shahi clarified to the JBIC delegation led by JBIC Deputy Governor Koji Tanami that NTPC, being one of the largest and best generating utilities in the world, was keen to have the best technology but at the same time there should be enough competing agencies.

It was also stressed that a competitive bidding process would allow for the best technology to be used in the project.

Major Japanese financial institutions like the Sumitomo Mitsui Financial Group &Tokyo Mitsubishi UFJ Bank -- the largest bank in terms of assets and fourth largest bank in the world in market capitalisation -- also met Mr Shinde and evinced interest in participating in the power sector along with their Indian counterparts.

Expressing interest in participating in the ongoing ultra mega power projects programme, the two parties noted the turnaround of the Indian power sector and hoped that the buoyancy in the finances of the power sector would continue to help towards the success of ultra mega power projects.

During the wide ranging discussions on bilateral cooperation in the power sector, the Indian delegation called on Japanese investors to participate in the growth of the Indian power sector, an official spokesperson here said today.

Mr Shinde, who is currently on a visit to Japan, held discussions with Japanese Economy, Trade and Industry Minister Toshihiro Nikai, on the need to develop technology to exploit opportunities available under the Clean Development Mechanism (CDM).

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