Gammon Infrastructure Projects Ltd is setting up a 30-mw
cogeneration power project at Pravara Nagar in Ahmednagar district of
Maharashtra.
The project envisages setting up an environment-friendly biomass-based power
unit in the premises of Padmashri Dr. Vitthalrao Vikhe Patil Sahakari Sakhar
Karkhana Ltd, the client, on build-own-operate-transfer basis. The project cost
has been revised upwards from Rs 139 crore to Rs 165 crore owing to delay in
project execution.
GIPL recently signed the power purchase agreement and is now awaiting financial
closure. The project development agreement was signed in December 2007 for a
25-year concession period.
Work on the project is expected to commence next month with completion scheduled
for July 2009.
