DS Const, Israel Electric Corp to jointly bid for power projects

New Delhi, Nov 15 (UNI) DS Contructions has tied up with Israels sole intergrated electric utility Israel Electric Corporation (IEC) to bid for the ultra mega power projects in India.

As per the announcements made today, the duo have already submitted the request for qualifications for the 4,000 mega watt Krishnapatnam Project in Andhra Pradesh and plans to bid for six ultra mega power projects in Orissa, Jharkhand, Akaltara in Chattisgarh, Girye in Maharashtra, Tadri in Karnataka, and Goa.

For the purpose of execution of projects, if awarded, the partners will create a special purpose vehicle in which the Indian company will hold a minimum of 26 per cent stake.

''With the Indian power sector opening up for international comapanies, we are looking forward to participating in the ultra mega power projects... we are confident that our partner's strong project execution capabilities coupled with our expertise and experience design, engineering and management will help in successful exection of these projeects,' IEC Senior VP (Engineering Projects) Wittinig Silviu said.

Israel Electric Corporation, which has 99.85 per cent equity participation from the State of Israel, is one of the largest Industrial companies in Israel.

DS Constructions' Chairman (Energy and SEZ Division) Rajendra Singh said, ''We are actively focusing on the energy sector for growth and therefore, looking at undertaking large-scale complex projects in the sector. We are already executing 1,260 MW of projects in the sector and are hopeful of ahieving 10,000 MW within the next 10 to 12 years.'' UNI PKS CS KP1730