June 14, 2007
Anil Ambani Group
May Double Rosa Power's Capacity
Lucknow
The Anil Dhirubhai Ambani Group is seeking to double the capacity of
Rosa Power project in Shahjahanpur district to 1,200 megawatt at an
outlay of Rs.50 billion ($1.25 billion), company officials said
Thursday.
The project, approved by the previous state government, was endorsed
by Uttar Pradesh Chief Minister Mayawati Wednesday after a close
scrutiny. The project, some 180 km from here, had been acquired from
the Aditya Birla Group in November last year.
"The land set aside for Rosa suggests that with modern technology we
can easily double the capacity. Since Uttar Pradesh is also facing
acute power shortage, we have proposed to generate 1,200 megawatt
now," the official, who did not wish to be identified, said.
The original capacity was 600 megawatt at an outlay of Rs.26.41
billion.
"We have achieved financial closure. The regulatory authority has
given its nod and the coal purchase pact - a rather unique one - has
also been signed. So, we will stick to the timeframe and start
production from March 2010."
The coal-based project has secured the central government's nod for
long-term supply of coal, which would be transported from the Ashoka
Mine in Jharkhand, an existing mine of Central Coalfields, a
subsidiary of state-run Coal India.
The Railway Board has also approved the transportation agreement for
coal.
Uttar Pradesh State Industrial Development Corporation had acquired
the land for the project that is being implemented by a subsidiary
of the Anil Dhirubhai Ambani Group, named Rosa Power Supply Company
Ltd.
"Since we have used Chinese technology in the past, we will opt for
the same at Rosa as well."
The water for the project will be provided from Garrah river, which
flows about a kilometre to the west of the site. The company has
also signed the water use agreement with the state government,
officials said.
The project will yield a fair amount of fly ash, which can be used
as raw material in local brickfields and cement manufacturing units,
they added.
The Aditya Birla Group, which initiated the project in the early
1990s, had formed a 51:49 joint venture with Britain-based PowerGen
to execute the project.
The Anil Dhirubhai Ambani Group ranks among India's top five with a
net worth of $6 billion, a market capitalisation of $22 billion and
net assets in excess of $7 billion.
Its interests span
communications, infrastructure development, entertainment, financial
services and generation, transmission and distribution of power.
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