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Chennai:
Neyveli Lignite Corporation (NLC) and the Tamil Nadu Electricity
Board (TNEB) are in talks to promote a joint venture (JV) company
for a 500-mw thermal power project in Tuticorin.
 Industry sources say the
talks are the initials stage, and the JV structure - equity
holding, management control and other issues - are yet to be
finalised.
This is the first time
that the TNEB is looking at a JV for power generation. The reason
is simple - cash crunch - and NLC is cash-rich. Given the fact
that the creation of a per-mw capacity will cost Rs 4 crore, the
proposed project will involve an outlay of Rs 2,000 crore.
The TNEB wants to utilise
the vacant space near its existing power plant in Tuticorin to
house a 500-mw project. The board has already created
infrastructure linkages for coal imports. The critical issue that
has to be sorted out about the proposed project is the modality of
disposing ash.
As
the TNEB and NLC are both government organisations and
require necessary clearances from respective governments,
it will take some time to finalise the JV structure.
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