NMDC Power Limited and IEDCL sign MoU to set up JV Power Plant of 500 MW

powerAn MoU was signed between the NMDC Power Limited (NPL), a wholly owned subsidiary of Navratna Public Sector Undertaking, NMDC Limited under the Ministry of Steel and IEDCL, a subsidiary of M/s. IL&FS in the presence of Union Minister of Steel, Shri Beni Prasad Verma and Minister of State (Independent Charge) for Power, Shri Jyotiraditya Scindia here today. Under the MoU, a 2×250 Mw Thermal Power Plant will be set up under Joint Venture at Gonda, Uttar Pradesh.

Speaking on the occasion, Shri Beni Prasad Verma, said that establishment of Power Plant at Gonda will encourage potential agro based industries and help in ensuring better living and industrial growth in the region. He further added that the project would pave way for faster development of the area and opening of newer avenues of employment for the people of Gonda.

The Minister of Steel expressed hope that the partnership between NPL and IEDCL will help in establishing an efficient power plant at Gonda. He said that IEDCL will drive the project and the joint venture will prove to be extremely successful.

On the occasion, Shri Scindia said that power is the fulcrum of developing country like India. He added that India is witnessing tremendous capacity addition and that coming together of two giants like NMDC Power Limited and IL&FS will contribute immensely to the development of the nation. In Uttar Pradesh, there is 13.6% power deficit for which various steps like linking of various grids will be taken up soon, the Minister said.

The MoU was signed between Shri Hari Sankaran, Vice Chairman and MD IL&FS and Shri N.K. Nanda, Chairman, NMDC Power Limited. The project is estimated to be completed within three years at an approximate cost of around 3,000 crores.

Also present on the occasion were Shri V.K. Thakral, AS&FA, Ministry of Steel, Shri C.S. Verma, CMD, NMDC and senior officials of the Ministry of Steel and Ministry of Power.