Web Exclusive | June 2013
ONGC's Tripura power project ready
In Tripura, the President Pranab Mukherjee will inaugurate Rs 3,429-crore power project of the State-owned Oil and Natural Gas Corp's (ONGC) on June 21. The first unit of the 726.6 mw gas-based power plant has started generating electricity and will be formally dedicated to the nation at a ceremony at Palatana in the state, officials concerned said. While the first 363 mw unit was synchronised on October 2012, the second unit is expected to commence operation in August.
The Rs 3,429 crore project has been built by ONGC through a special purpose vehicle, ONGC Tripura Power Company (OTPC). ONGC holds 50 per cent stake in the company while Infrastructure Leasing and Financial Service (IL&FS) has 26 per cent. Government of Tripura has 0.5 per cent equity while the balance is yet to be tied-up.