RIL may bid for 4000 MW mega power projects
16 Jun 2010
Mukesh Ambani, who last week announced his telecom sector entry with the acquisition of Infotel Broadband Services Pvt Ltd, a pan-India wireless broadband licensee, (See: RIL acquires 95-% stake in Infotel Broadband) has now set his sight on the power sector.
RIL is said to be planning to bid for at least two ultra mega power projects in Chhattisgarh and Orissa.
The central government has invited bids for the 4,000 MW Sarguja UMPP in Chattisgarh by 5 July and a similar project at Bedabahal in Orissa by 30 July, and RIL is likely to bid for these, reports quoting sources close to the company said.
"The company is likely to bid for the two UMPPs for which the government has issued RFQs (request for qualification)," the report quoted the source as saying.
With younger Ambani, Anil, allowing a scrapping of the non-compete clause in their mutual business agreement signed in 2006, the elder Ambani is now free to enter areas of business, including, telecom, power, entertainment and media, which were so far forbidden for him.
RIL and Anil Ambani's ADAG are also expected to soon negotiate a gas deal in accordance with the Supreme Court order.
ADAG has bagged three of the four UMPPs allotted so far by the government. These include the Sasan (Madhya Pradesh), Krishnapatnam (Andhra Pradesh) and Tilaiya (Jharkhand) projects.
The fourth one at Mundra (Gujarat) is being developed by Tata Power.
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