EPC bids for Damodar Valley almost ready

Vol 5, PW 3 (28 Mar 01) News in Brief
     

Bombay Suburban Electricity Supply (45%) and Damodar Valley Corporation (45%) will finalise EPC documents for the 1,000-MW coal-fired Rs 4,000cr ($880m) Maithon power project in the first week of April.

BSES-DVChas shortlisted seven companies for the contract: Mitsui, Sumitomo, Marubeni, Bharat Heavy Electricals, Alsthom, Korea Heavy Industries and Construction (Hanjung) and Shanghai Electric Corporation. Located in Jharkand, it is the state's first big project since it was carved out of Bihar last year.

Price negotiations are on with Bharat Coking Coal to source coal located 60-km away. Debt equity ratio of the project is 30:70.

Financial institutions hold 10%.