Tata Power may tie-up funds for Mundra Project

Tata Power company on Tuesday said it is likely to tie-up funds for the 4000 mega watt Mundra Ultra Mega Power Project by August 2007.

Tata Power company on Tuesday said it is likely to tie-up funds for the 4000 mega watt Mundra Ultra Mega Power Project by August 2007, and generation is expected to start by 2011.

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"We hope to achieve financial closure by August," a senior Tata Power official said in New Delhi while adding that the company was expecting to start power generation by 2011.

The company is in talks for importing coal for power project from various countries.

"The project requires 12 million tonne of coal," he said adding that the sourcing of coal has not been finalised yet.

Tata power had on Monday emerged as the lowest bidder for the Mundra Project with a tariff of Rs 2.26 per unit.