Tilaiya project bagged by Reliance Power

Tilaiya project bagged by Reliance Power The Tilaiya ultra mega power project (UMPP) in Jharkhand has been acquired by Reliance by proposing to supply power at Rs 1.77 per unit, which is the lowest price quoted by the four companies in the fray.

The government owned NTPC was the one to come with the next bid for the Rs 16,000-18,000-crore project that assured to provide power from the pithead coal project at Rs 2.39 per unit.

Jindal Steel and Power and Sterlite Industries were other two bidders. The former offered to supply power at Rs 2.69 per unit whereas latter bid the highest at Rs 2.97 per unit.

An official of the Power Finance Corporation (PFC), which is the nodal agency for the ultra mega power projects, said, "The fifth company short listed to bid, Lanco Infratech, partnership with Genting Power International, withdrew at the last minute."

It should be noted here that this comes as the third UMPP won by the Anil Ambani group company, with first two being Sasan in Madhya Pradesh and Krishnapatnam in Andhra Pradesh.

Reliance's winning bid was described as "very aggressive" by the analysts, who also predicted the huge gap between the lowest bid (Rs 1.77 per unit) and the second best bid (NTPC's Rs 2.39 per unit).