NTPC scouts JV partners in Oman for Kayamkulam, other power units

Dubai, Apr 8 (UNI) National Thermal Power Corporation Ltd (NTPC) is seeking joint venture partners from Oman for building three power projects in south India -- including the 1950 mw gas-based Kayamkulam project.

''NTPC has identified three power projects for foreign equity participation,'' company Chairman and Managing Director T Sankaralingam said.

The other two coal-based power projects of 1000 mw capacity each are proposed to be set up in Ennore, near Chennai and Cheyyur in Kanchipuram.

The power major plans to offer 11 to 25 per cent stake in each of the three projects.

The proposed project at Kayamkulam, near NTPC's existing power plant in Kerala, will cost 1.48 billion dollars. While the Ennore plant will need an investment of 1.13 billion dollars, the Cheyyur plant will cost 1.16 billion dollars.

Addressing an investor conference in Muscat yesterday, Mr Sankaralingam said the projects are envisaged with a 70:30 debt equity ratio.

He said the proposed power plants in Tamil Nadu will be established in joint ventures with the state's electricity board while all the three projects will involve foreign investment from one or more partners as joint promoters.

The Kerala project will be implemented in two phases -- the first phase of 650 mw capacity will go on stream by 2010-2011 and the second phase of 1300 mw will be ready by 2011-2012.

UNI