'Greenfield' gas-residue power plant for Hazira

Vol 4, PW 18 (11 Oct 00) News in Brief

Plans are afoot to set up a Greenfield 360-MW gas residue-fired captive power project at Hazira in Gujarat.

But it appears ONGC is keener to execute the project than its partner National Thermal Power Corporation. A source at NTPC tells Petrowatch that both sides signed a MoU to set up the Rs1,150cr ($253m) plant 18 months back.

A spate of reports in the Indian press suggest the two sides are set to sign a formal joint venture, with NTPC and ONGC holding 25% each, and the balance held by financial institutions. Fuel for the plant will come from ONGC's gas processing plant at Hazira.

Power Purchase Agreement talks are underway with the Gujarat Electricity Board.