The Hinduja group is all set to revive its 1,040 mega watt power project at Vizag in Andhra Pradesh, after a hiatus of 17 years.
The Vizag power project, to be set up at a cost of Rs 5,200 crore, was one of the seven fast track projects proposed to be set up in the first phase of liberalisation in 1992 and was conceived as a joint venture project between the Hindujas and National Power of UK. However, the project failed to take off on account of cost issues with the state government.
Staging a comeback after 17 years, the project will now be implemented by a fully-owned subsidiary of the Hinduja Group — Hinduja National Power Company — which is headed by the former chairman of state-owned BHEL, A K Puri.
Puri told HT the project would be developed on turnkey basis for which international tender was floated on June 23. “The last date for submission of bids is August 31 and we intend finalising the developer of this project by August 31,” he said.