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Orissa Govt's "No" to American power major AES

Written by: Staff

Bhubaneswar, Sep 9 (UNI) The Orissa government has refused to issue a no objection certificate (NOC) to American power major, AES, to proceed on with its proposed 1000 Megawatts coal based power project in neighbouring Chattisgarh.

AES has signed a memorandum of understanding (MOU) with the Chattisgarh government for setting up the giant power project.

As per Central government guidelines, a foreign company will have to obtain NOC from the states where it has projects or was conducting business, official sources here said today.

''The Foreign Investment Promotion Board had asked for a clearance on AES's proposed project in Chattisgarh. Since it did not honour shareholder's agreement signed with the state government to put up two units at IB Valley in Orissa, we decided not to give our clearance," Orissa's Energy Minister Surya Narayan Patra said.

Moreover, the Company (AES) has defaulted on many occasions. "AES is yet to settle its dues in regard to its involvement in power distribution business in Orissa'', Mr Patra said.


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