Gammon Infra plans 3 IPPs in Karnataka
Gammon Infrastructure Projects Ltd, an infrastructure
development company of Gammon India Group, is emerging as an independent power
producer (IPP) with plans to set up three thermal power plants of 1,000 mw each
in Karnataka. The company has submitted Expression of Interest to the state
government and is awaiting final consent.
The company's other future projects are a 2,000-mw power project in Himachal
Pradesh; a port in Gujarat estimated to cost Rs 1,000 crore, mass rapid transit
system worth Rs 12,000 crore, and an iron ore and coal project in Paradip,
Orissa. While the MRTS project will be implemented in association with Alstom
and Infrastructure Development Finance Company as financing partner, the iron
ore and coal project will be in consortium with Noble Group and Minerals &
Metals Trading Corporation Ltd. The financial bids are yet to be submitted.
"Currently, Gammon Infrastructure Projects Ltd is working on 14 projects in
various segments at an overall cost of Rs 5,500 crore. Of this, four projects
have been commissioned and the balance is in different stages of
implementation," said Parag Parikh, Head - Finance, GIPL. The company also plans
to enter real estate.
[March 10-16, 2008]