GVK signs MoU with Hyundai, L&T | business | Hindustan Times
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GVK signs MoU with Hyundai, L&T

business Updated: Jun 21, 2010 20:49 IST
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GVK Gautami Power today signed an Engineering, Procurement and Construction (EPC) agreements with the Consortium of Hyundai Engineering Co. Ltd, Korea and Larsen & Toubro for the installation of advanced class Siemens single shaft gas turbine generators.

GVK Power owns and operates 915 MW gas-based Combined Cycle Power Plants in Andhra Pradesh near K-G Basin gas sources and has plans to substantially augment its generation capacity over the next 5 years, GVK Chairman G V K Reddy said.

As part of this programme, it will be installing an 800 MW (2x392.24 MW) gas based Combined Cycle Power Plant at its Gautami plant site at a cost of Rs 3200 crores, he said.

"All approvals, land, water and other requirements have been tied up. Energy from the power plant will be sold to southern states as well as Maharashtra. The first unit of the project is scheduled to go into commercial operation in the first quarter of 2013," Reddy said.

GVK plans to increase the installed capacity by adding a third unit of about 400 MW at Gautami at a later date, he said.

He pointed out that a strong consortium of Hyundai and L&T would be advantageous to the project in terms of quality construction and early completion.