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.