(a) whether the Central Electricity Authority has extended the counter guarantee to the Visakhapatnam Thermal Power Project;
(b) if so, the time by which the work on the project is likely to commence; and
(c) the time schedule fixed for its completion?
THE MINISTER OF STATE IN THE MINISTRY OF POWER
( SHRIMATI JAYAWANTI MEHTA )
(a) to (c) : The Viskhapatnam Thermal Power Project (1040 MW)
in Andhra Pradesh being promoted by M/s. Hinduja National Power
Corporation Limited (HNPCL) has been accorded techno-economic
clearance of Central Electricity Authority (CEA) on July 25, 1996
at an estimated completion cost of US $ 943.75 million +
Rs. 1324.993 crores (@ 1 US $ = Rs. 35.00). On 16.5.1998,
Government approved extension of counter-guarantee to this
project through a revised procedure. Counter guarantee of
Government of India has been issued to the project on August 19,
1998. CEA does not issue counter guarantee but only
techno-economic clearance for power projects. The promoters of
the project are yet to achieve financial closure and commence
construction activities. The project is scheduled for
commissioning 44 months after the date of financial closure by
the promoters.