Anil Ambani takes over 12K cr Sasan Power

NEW DELHI: At last, the Anil Ambani-led Reliance Power Ltd has bagged the Rs 12,000 crore Sasan Power Project with an installed capacity of 4000 MW. The project would be set up in the Sidhi District of Madhya Pradesh. Power Minister Sushil Kumar Shinde transferred the shell company, Sasan Power Ltd to ADAG Chief Anil Ambani in the capital on Tuesday. This brings to an end a bitter corporate feud that unfolded after the Lanco group was initially selected as the lowest and preferred bidder to execute the Sasan Power Project. Following disqualification of Lanco, the second lowest bidder, Reliance Power Ltd matched the tariff to Rs 1.196 per unit. Sasan Power Project is the first ultra mega power project that was taken up for execution by the nodal agency, Power Finance Corporation (PFC). Now, the Reliance Power will execute six units of 660 MW each. The Power Purchase Agreement, Escrow and Hypothecation Agreements were signed between Anil Ambani’s Reliance Power and PFC. Letter of Intent (LoI) for this Project was issued to Reliance Power Ltd on August 1.

Ambani brothers ride Mumbai`s makeover

Today, if you travel by road from the central suburb of Ghatkopar to the western suburb of Versova, it could take you an hour if you are not caught in a bad traffic jam. Come 2009 and you could cover the same distance by the Mumbai metro in 21 minutes and, since the metro will have air-conditioned coaches, you can hope to arrive in good shape. Besides, the maximum fare of Rs 10 will not pinch most pockets.

Similarly, if you are a businessman or a senior executive tired of coping with the city’s crumbling infrastructure, you could think of buying an apartment in the Navi Mumbai special economic zone (SEZ), which promises to offer living conditions on a par with the world’s most sophisticated cities. The city will come up next to the Navi Mumbai airport from where you could catch a flight to anywhere in the world.

And in case you are worrying about visiting Mumbai, a new 22.5 km, six-lane highway across the harbour will get you to central Mumbai in just 30 minutes.

Sounds too good? Well, that’s a glimpse of the future of Mumbai. And what’s common in these dream infrastructure projects is that the Ambani brothers, Mukesh and Anil, are either involved or pitching for them. Read more in Business Standard

Reliance Power bags Sasan

Matches Lanco-Globeleq price.

The three months of uncertainty over the 4,000 Mw Sasan ultra mega power project is finally over. Anil Dhirubhai Ambani Group (ADAG) company Reliance Power Limited (RPL) has bagged the project after matching the tariff of Rs 1.196 per unit quoted by the original winning bidder, a consortium of Singapore-based Globeleq and Hyderabad-based Lanco Infratech, which was disqualified.

After an hour-long meeting, the empowered group of ministers (EGoM) today awarded the Rs 20,000 crore project in Madhya Pradesh — the country’s largest thermal power project — to Reliance Power.

“Sasan Power Limited had received revised offers from three bidders that included Jai Prakash Associates, NTPC Limited and Reliance Power Limited and the revised bid of Reliance Power quoting a levellised tariff of Rs 1.196 per unit was the lowest,” said Power Minister Sushilkumar Shinde, who also heads the EGoM.

The EGoM has asked Sasan Power to award RPL the letter of intent (LoI) for the project, the minister said. Sasan Power Ltd is the shell company floated by the Power Finance Corporation to pilot the Sasan project. Read more at Business Standard