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Home News Power Sector News Economic Meltdown will slow down Ultra Mega Power Projects

Economic Meltdown will slow down Ultra Mega Power Projects

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Economic Meltdown cast shadow on Ultra Mega Power ProjectsThe prevailing chaos in the global markets and economic crisis appears to slow down the upcoming Ultra Mega Power Projects (UMPP) in the private sector in the country. While three Ultra Mega Power Projects, each with a capacity of 4,000 MW, are being set up in Mundhra (Gujarat) by Tata Power, the second one at Sasan in Madhya Pradesh and the third one at Krishnapatnam in Andhra Pradesh are being established by Reliance Power.

Besides, the fourth one is proposed at Tiliaya in Jharkhand and plans are on the anvil to have similar projects in Orissa, Tamil Nadu and Karnataka.

Speaking to reporters after reviewing the progress of various APGenco projects in Hyderabad on 15-11-2008, Union Minister of State for Power and Commerce Jairam Ramesh said that the companies except Reliance ifra will have financial problems.

“The uncertainty in the market will put pressure on the promoters of such projects and we are keeping our fingers crossed,’’ the Union Minister said.

Jairam Ramesh felt that even the power utilities in the public sector like the NTPC and BHEL should make a bid for the UMPPs as 81 percent of the 78,000 MW, that is being proposed in the 11th Five Year Plan, is by the public sector and the remaining 19 percent by the independent power producers.

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