Chinese power giant in $2.4 billion power project EPC deal in India
13 Apr 2012
Power Construction Corporation of China has signed a $2.4 billion contract with India's Infrastructure Leasing & Financial Services Ltd (IL&FS), under which the Chinese company will construct the second phase of a coal-fired ultra mega power project in Tamil Nadu, in southern India.
The engineering, procurement and construction (EPC) contract involves the setting up of four 660 MW generators of a total capacity of 2640 MW, the Chinese group said in a website release.
The first phase of the project consisted of two generators each with capacity of 600 MW.
Meanwhile, IL&FS said it has also acquired a coalmine in Indonesia to fuel the projects
Under the EPC contract, Power Construction Corp of China will be responsible for engineering, procurement and construction, the company said, adding, the project will create more than 10,000 jobs in India and use power equipment made in China.
Power generated from the plant will be sold to state-run distribution companies on a long-term basis and also sold in the open market.
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