Vizag Steel, NTPC join hands for setting up 150 MW power project

Rashtriya Ispat Nigam Limted (RINL), the corporate arm of Visakhapatnam Steel Plant, today signed a Memorandum of Understanding with NTPC to form a Joint Venture Company for setting up of a 150 MW power plant in Visakhapatnam.

New Delhi, July 27 : Rashtriya Ispat Nigam Limted (RINL), the corporate arm of Visakhapatnam Steel Plant, today signed a Memorandum of Understanding with NTPC to form a Joint Venture Company for setting up of a 150 MW power plant in Visakhapatnam.

The 50:50 Joint Venture will be christened as "NTPC-RINL Power Company Ltd".

The proposed joint venture will supply power to RINL, which is currently undertaking an expansion programme that will take its capacity to 6.3 million tonnes.

The average power demand of RINL at 6.3 million tonnes stage is estimated to be 418 MW and the present generation of 226 MW meets its present requirement.

The power generation from the proposed Gas Turbine Combined Cycle Power Project (GTCC) unit in JV with NTPC will augment the power supply by 150 MW.

The GTCC technology is environment friendly and more efficient in terms of power generation.

The MOU was signed by RINL Chairman and Managing Director P.K.Bishnoi and NTPC Limited Chairman and Managing Director T.Sankaralingam.

NTPC, the country's largest power utility, has a total installed capacity of 27,904 MW through 25 power stations. With 20 per cent of all India's installed capacity, NTPC contributes around 29 per cent of the country's power generation.

NTPC plans to become 75,000 MW plus company by 2017.

RINL is presently operating at 120 per cent of the rated capacity with 3.6 million tonnes of liquid steel annually and is expected to touch 6.3 million tonnes by 2008 and 16 million tonnes by 2017-18.

ANI