Egom for issuing ''immediately'' Letter of Intent (LoI)

New Delhi, Jul 30 (UNI) The Empowered Group of Ministers (EGoM) which met here today said Sasan Ultra Mega Power Project should consider taking immediate action to issue the Letter of Intent (LOI) to the lowest bidder.

The EGoM noted that the Sasan Power Limited had received revised offers from the three remaining bidders--Jaiprakash Associates, NTPC and Reliance Power Ltd formerly known as Reliance Energy Generation Ltd.

It said the revised bid of Reliance Power Ltd quoting levellised tariff of Rs 1.19616 per kilo watt hour was the lowest of the three bids ''We are delighted to have won India's largest Ultra Mega Power Project through an international competitive bidding process. We look forward to building this world-class infrastructure facility,'' Reliance Energy Ltd Chairman Anil Dhirubhai Ambani said in a statement.

The Rs 20,000 crore investment in the Sasan project will contribute in accelerating India's economic growth by substantially raising the current generation capacity, he added.

Reliance Energy Limited, incorporated in 1929, is a fully integrated utility engaged in the generation, transmission and distribution of electricity.

The company distributes more than 21 billion units of electricity to over 25 million consumers in Mumbai, Delhi, Orissa and Goa, across an area that spans 1,24,300 sq kms.

It generates 941 MW of electricity, through its power stations located in Maharashtra, Andhra Pradesh, Kerala, Karnataka and Goa.

Reliance Energy is currently pursuing several gas, coal, wind and hydro-based power generation projects in Maharashtra, Uttar Pradesh, Arunachal Pradesh and Uttaranchal with aggregate capacity of over 12,500 MW.

These projects are at various stages of development, said the statement.

The company is vigorously participating in emerging opportunities in the areas of trading and transmission of power.

It is also engaged in a portfolio of services in the power sector in Engineering, Procurement and Construction (EPC) through a network of regional offices in the country, statement added.

The company has estimated revenues of Rs 9,500 crore and total assets of Rs 10,700 crore.

UNI