BL reported that NTPC Limited is betting on revenue streams from technical support assignments for State Electricity Boards to improve the operational efficiency of their thermal power stations, given the ongoing power shortages. It is also actively eying opportunities for taking over sub optimally performing SEB plants.
As per report, NTPC is set to offer technical support to Madhya Pradesh Power Generating Company Limited to improve the plant load factor at 3 of the latter’s thermal stations.
According to senior company officials, NTPC is also in advanced stages of taking over an ailing 840 MW plant run by the Jharkhand State Electricity Board and is eyeing similar opportunities with other State utilities as well. Officials said NTPC is also in advanced stages of due diligence for buying out the JSEB’s Patratu thermal station. The plan, in this case, is to capitalize on the vacant land at the location to set up at least 6 super-critical thermal units.
According to NTPC officials, the utility is open to other such takeover options that come in the course of a technical support exercise that it has launched with the SEBs. The NTPC official said “We are open to taking up technical support assignments. If the SEBs were willing, we would be keen to look at the possibility of taking over plants that are not performing well.”
(Sourced from http://www.steelguru.com/news/index/2009/07/10/MTAxNTc0/NTPC_eying_ailing_state_electricity_board_assets.html)
Zoom Developers await review of Vizhinjam bid - Report
ET reported that over a week after a wave of rumors and speculation lashed the prospects of the INR 5,340 crore Vizhinjam container transshipment terminal, Mumbai based Zoom Developers is still awaiting results of the reevaluation of the company's bid by a committee set up by the state.
Mr Anil Thampy CEO of Zoom Developers said "We have received no intimation from the authorities on the status of our bid that was being reevaluated by a committee. We are awaiting to know how we have scored in the evaluation so that we can proceed with further steps."
The project had plunged into uncertainty when Lanco Kondapalli Power, which had originally won the tender last year, decided to withdraw from the project citing undue delay on the part of the authorities to take a final decision on the issue and there was speculation that Zoom Developers' bid had been rejected by the evaluation committee.
Putting on record Lanco's disillusionment with the procedural delays, Mr V Sreenivas director of Lanco said "Protracted litigations and an atmosphere vitiated by baseless speculations has altered out due diligence perspectives on the project."
Among the suggestions that have come up are to ask the Centre to take the initiative in setting up the port and getting NRIs to fund the project but the current state of affairs points to an uphill task for the state government to get the project back on track, perhaps through an international tender all over again.
The Vizhinjam project envisaged in the public private partnership mode on build operate transfer basis was expected to have INR 2,400 crore outlay in its first phase. The proposed port has the advantage of a 17 meter natural draft and the project has the potential to generate 5,000 direct jobs and 150,000 indirect jobs.
(Sourced from http://www.steelguru.com/news/index/2009/07/10/MTAxNTc1/Zoom_Developers_await_review_of_Vizhinjam_bid_-_Report.html)
APEX court allows Sesa Goa to conduct EGM
Zee News reported that the SC on last Thursday allowed Sesa Goa Limited to conduct its extraordinary general meeting for allocating preference shares to the promoters Vedanta Resources Limited.
A Bench headed by Justice Mr BN Agarwal allowed Sesa Goa to conduct the EGM.
However, it directed Sesa Goa that any decision taken in allotting shares to any entity would be subject to the final outcome of the petition of Harinarayan G Bajaj, who claims to be a minority shareholder and who sought to restrain Sesa Goa from allotting shares on the grounds that the act would be detrimental to the interests of shareholders.
(Sourced from http://www.steelguru.com/news/index/2009/07/10/MTAxNTc2/APEX_court_allows_Sesa_Goa_to_conduct_EGM.html)
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