October 17, 2008

Universal inks MoU for 10,000 MW power plant in West Bengal

October 17, 2008
FE reported that Universal Success Energy, a subsidiary of Singapore based Universal Success Enterprises, has signed a MoU with the West Bengal government on for setting up a 10,000 MW thermal power plant at an investment of around INR 60,000 crore.
For the 10,000mw project, which will be the single biggest project in India in terms of capacity, Universal Success will need 5000 acre, which it plans to buy directly at market prices.However, it has given a rider that the company will move ahead with the project if only the people of the state want it.
Mr Prasoon Mukherjee promoter of the company after the signing of the MoU said that "Even as we have committed an investment of INR 60,000 crore, but we will first satisfy ourselves that the people of Bengal are willing to have the project in the state."Mr Mukherjee said that “The project will be implemented in phases and Universal plans to set up a 2000 MW plant first on 1000 acre, entailing INR 11,000 crore investments by 2012. It will invest another INR 5000 crore for building a port in 300 acres to 400 acres, because the entire coal will be sourced from Indonesia.
The port will have a capacity of handling at least 30 million tonne of coal per year.”Mr Mukherjee added that "Universal has coal blocks in Indonesia and sourcing coal for the 10,000 MW project will not be a problem.”He also said that “Universal has proposed to set up similar kind of power projects in Maharashtra and Gujarat and the governments there have promised to give all support.”

No comments: