In dire need of electricity, the Maharashtra government on Wednesday offered eight power companies a second chance to honour their commitment to set up thermal/gas plants in the state.
The companies have now been given six years instead of the earlier five to commission plants totalling 12,500 MW.
The companies had signed MoUs with the state in May 2004 but were disqualified from getting any tax concessions promised by the state as they failed to submit even the basic detailed project reports.
Thanks to the new deadline, the power companies now have more time to commission their plants by September 2011.
The companies that would benefit from Wednesday’s extended deadline include Reliance Energy, Tata Power, Jindal Power, Ispat, GMR Group, Essar Power and Spectrum Ltd. Of these firms, only REL, Tata Power and Jindal have identified land and submitted their project reports.
Faced with a huge power deficit, the government does not have the inclination to punish or pull out of agreements signed with these power companies. It has clearly sought to relax the stiff deadlines in order to revive the prospects of getting 12,500 MW of electricity from these projects.
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The companies have now been given six years instead of the earlier five to commission plants totalling 12,500 MW.
The companies had signed MoUs with the state in May 2004 but were disqualified from getting any tax concessions promised by the state as they failed to submit even the basic detailed project reports.
Thanks to the new deadline, the power companies now have more time to commission their plants by September 2011.
The companies that would benefit from Wednesday’s extended deadline include Reliance Energy, Tata Power, Jindal Power, Ispat, GMR Group, Essar Power and Spectrum Ltd. Of these firms, only REL, Tata Power and Jindal have identified land and submitted their project reports.
Faced with a huge power deficit, the government does not have the inclination to punish or pull out of agreements signed with these power companies. It has clearly sought to relax the stiff deadlines in order to revive the prospects of getting 12,500 MW of electricity from these projects.
Discuss
Tell a friend
Bury
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