Realty players in power play,pledge Rs 2 lakh crore to light up Gujarat

The state government has received as many as 29 proposals from private developers promising to invest nearly Rs 2 lakh crore in the power sector and generate over 42,000 MW in Gujarat,sources said.

Written by Express News Service | Gandhinagar | Published:January 22, 2009 1:26 am

The state government has received as many as 29 proposals from private developers promising to invest nearly Rs 2 lakh crore in the power sector and generate over 42,000 MW in Gujarat,sources said. The memoranda of understanding (MoUs) for this were inked at this year’s Vibrant Gujarat Global Investors’ Summit.

Prominent among the developers who signed MoUs is the Salim Group of Indonesia,backed by Universal Success Enterprise Ltd (USEL),which has proposed to set up a 10,000 MW power plant on the Jamnagar coast involving an investment of a whopping Rs 50,000 crore.

Most of the developers have proposed to set up power plants in the coastal areas in Saurashtra,Kutch and south Gujarat. The Singapore-based USEL,with financial support of the Salim Group,will implement the proposed power project in a phased manner over a period of 5-7 years,a senior state Energy official said on Tuesday.

The Salim Group is a diverse trans-national conglomerate with varied business interests covering agriculture,food,automobile manufacturing,chemical,banking and financial services,real estate and resorts and hotels. The group has already its presence in West Bengal,the official said.

The other main developers who have promised investment in the power sector include L&T Power Development Ltd (1,680 MW project — Junagadh/Hazira),Torrent (3,000 MW – Surat),Bangalore-based GMR Energy Ltd (2,000 MW — location yet to be decided),Shapoorji Pallonji (2,000 MW — Junagadh/Simar),Adani Power Ltd (2,000 MW – Dholera),Ahmedabad-based Rachna Global Excavation Ltd ( 2000 MW),Mumbai-based Responsive Industries Ltd (2000 MW),Canada-based Canasia Power Corporation (1,320 MW) and Chennai-based OPG Power Gujarat Pvt Ltd (2400 MW- Kutch).

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