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/ India News / 2007 / November 2007 / November 6, 2007 Railways, NTPC join hands to set up a power plant in Bihar |
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The Railways and National Thermal Power Corporation today joined hands to set up a 1, 000 Mega Watt (MW) power plant in Nabinagar in Bihar.
Nabinagar (Bihar), Nov 6 : The Railways and National Thermal Power Corporation today joined hands to set up a 1, 000 Mega Watt (MW) power plant in Nabinagar in Bihar.
The joint venture company will be called Bharatiya Rail Bijlee Company.
The Railways requires 2,200 MW for its entire network. Currently, it pays Rs 4.22 per unit (average all-India) for its traction needs. However, with the setting up of this captive power plant, it might get power at Rs 2.51 a unit, which is 40 per cent cheaper.
The cost per unit may further go down to Rs 2.39 if the joint venture gets mega-project status.
Speaking on the occasion, Rail Minister Lalu Prasad Yadav said that nearly 18,000 kilometres out of more than 63,000 route kilometres of Indian Railways network, has already been electrified.
The Minister said that Railways are spending about Rs. 5700 crore per annum for consumption on more than 13000 million units of electricity towards electric energy for traction and non-traction purposes.
Yadav said the Ministry of Railways in consultation with the Power Ministry has taken this decision to derive full benefits of the ongoing reforms in power sector
The Rail Minister further observed that this is also the need of the hour especially in view of the demands of a globalising economy and mega projects of the Railways such as the planned Dedicated Freight Corridors across the country.
The Nabinagar power plant will be built at a cost of Rs. 5352 crore. 10 per cent of power from this plant is earmarked to other users. The equity portions of NTPC and Indian Railways will be 74 per cent (Rs. 1188 crore) and 26 per cent (Rs. 417 crore) respectively.
Indian Railways will utilize the electricity from this plant for running electric trains in Bihar, Jharkhand, West Bengal, Chhatisgarh, Maharashtra, Gujarat and Madhya Pradesh in the eastern and western regions of the country.
ANI
