NBCC, CSEB set to sign Rs 4,000-cr JV
NBCC plans setting up of a 1,000 MW power plant at Marwah near Korba.
By Debjoy Sengupta, TNN |
KOLKATA: The Rs 1,500-crore public sector building construction company and real estate developer National Buildings Construction Corporation (NBCC) has decided to foray into power generation and is in the process of setting up a joint venture (JV) company with the Chhattisgarh State Electricity Board (CSEB) for setting up a 1,000 MW power plant at Marwah near Korba at an investment of Rs 4,000 crore.
“The Chhattisgarh government has given us the go ahead for floating the JV and setting up the plant. This will now allow us to undertake the project following an memorandum of understanding (MoU) that will soon be signed with the government of Chhattisgarh,” NBCC’s chairman & managing director Arup Roy Choudhury told ET.
“With its established track record of completion and commissioning of civil works of main plant, balance of plant for major thermal power plants like Singrauli, Rihand, Korba, Vindhyachal, Talchar, Simhadri, Chandrapura, NBCC has now decided to foray into turnkey construction of power plants in,” he added.
Mr Choudhury said that land will not be a problem as it is entirely owned by the Chhattisgarh government and land acquisition process is underway. “In the meantime, we will sign a power purchase agreement with the CSEB as they will buy 90% of the power generated from the plant.
Rest of the power will be traded through the national grid,” he said.
“This is a major quantum jump in the recent diversification strategies taken by NBCC. The company is now ready to contribute to power generation in the country and looks forward for taking future energy projects in India and abroad,” said Mr Choudhury.
In Botswana, it has entered into a JV with Jamal Trading, a local company, to undertake infrastructure projects in Botswana. To undertake transmission line works, NBCC has also inked an MoU with Ural Electrostatstroy of Russia.
“The Chhattisgarh government has given us the go ahead for floating the JV and setting up the plant. This will now allow us to undertake the project following an memorandum of understanding (MoU) that will soon be signed with the government of Chhattisgarh,” NBCC’s chairman & managing director Arup Roy Choudhury told ET.
“With its established track record of completion and commissioning of civil works of main plant, balance of plant for major thermal power plants like Singrauli, Rihand, Korba, Vindhyachal, Talchar, Simhadri, Chandrapura, NBCC has now decided to foray into turnkey construction of power plants in,” he added.
Mr Choudhury said that land will not be a problem as it is entirely owned by the Chhattisgarh government and land acquisition process is underway. “In the meantime, we will sign a power purchase agreement with the CSEB as they will buy 90% of the power generated from the plant.
Rest of the power will be traded through the national grid,” he said.
“This is a major quantum jump in the recent diversification strategies taken by NBCC. The company is now ready to contribute to power generation in the country and looks forward for taking future energy projects in India and abroad,” said Mr Choudhury.
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To enhance NBCC’s portfolio in India and abroad, the corporation has also entered into a number of JVs with overseas players.In Botswana, it has entered into a JV with Jamal Trading, a local company, to undertake infrastructure projects in Botswana. To undertake transmission line works, NBCC has also inked an MoU with Ural Electrostatstroy of Russia.
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