National Buildings Construction Corporation (NBCC) has invited an Expression of Interest to develop the coal mine and the power plant for a 1,000 MW project.
Though, the scope of NBCC as defined during its formation was to carryout the following activities:
- consultancy services for civil construction projects
- civil infrastructure for power sector; and
Further, the NBCC has raised around Rs. 127 Crore via a Initial Public Offering (IPO) in the month of April 2012.
Currently, the company is looking out for a joint venture (JV) partner for the above mentioned project.
According to sources, NBCC is planning to construct a 1,000 MW power plant at a cost of Rs5,000 crore.
Apparently, NBCC requires a coal mine for the purpose. It had planned to apply for allotment of a coal mine under the government dispensation route.
The criteria listed in NBCC’s published EoI involves.
- The JV partner needs to have a net worth of over Rs750 crore.
- It should have over 500 acres of land in possession.
- It should have done preliminary work for environment clearance.
As per the sources, the move was to increase the order book position of NBCC as work for a 1,000 mw power plant would be around Rs3,000 Crore
NBCC will bring the coal block to the table, while mining will be done by the JV partner. Equity capital for the proposed power plant will also be shared.
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