The three-member Investment Commission, headed by Tata group chairman Ratan Tata, has been playing the role of a mentor for large investment projects in the country. The Commission is working towards its main mission of suggesting policy changes to attract greater investments on the whole, and in some sectors where there is a dire need for higher inflows. And the Ministry of Power wants the Commission to guide it actively for the ultra-mega power projects that the ministry is now working on.The Ministry of Power is working on five ultra-mega power projects, for which bids have been invited from global players by January 31. The projects, expected to have a capacity of over 4,000 MW that can be raised to 10,000 MW, would cost nearly Rs 80,000 crore. The locations shortlisted for these plants are Mangalore (Karnataka), Ratnagiri (Maharashtra). Sasan (Madhya Pradesh), Akaltara (Chhattisgarh) and Mundra (Gujarat).While the government, through the power ministry, has offered to extend all support to the project — from clearances to securing fuel supply — the power ministry wants the Investment Commission’s guidance. Recently, a presentation was also made to the Commission on Reliance Energy’s proposed coal-based power plant at Hirma in Orissa.The Commission, in its mentoring role, has already worked closely with the Orissa government for sealing the Posco deal, now being touted as the biggest FDI investment in the country. Chip manufacturer Intel’s proposed $ 700 million facility in India, for which it is seeking some exclusive incentives from the Indian government, is another project where the Commission is actively guiding the government.
