ONGC Tripura Power Co (OTPC) has awarded a Rs 22-bn contract to Bharat Heavy Electricals Ltd (BHEL) to set up a 726.6 MW capacity gas-based power project in the north-eastern state.
The agreement was signed Monday in Delhi in the presence of ONGC chairman RS Sharma and BHEL chairman and managing director K Ravi Kumar. The contract was for two 363.2 MW cycle gas turbine power plants at Palatana in south Tripura.
According to an ONGC press release, the project, to be completed in the 11th Five Year Plan, will cater to the power demand of north-eastern states.
"The generation project combined with linked transmission project and upstream gas supply project is slated to bring in investments of around Rs 9,000 crore (Rs 90 bn) in the region," said the company statement.
Central transmission utility Power Grid Corp, OTPC and regional state governments are also jointly developing a trunk transmission line.
Besides, Power Grid will also develop inter-state and intra-state sub-transmission systems for the region.
ONGC has 50 per cent equity stake in OTPC, with 26 per cent held by Infrastructure Leasing & Financial Services Ltd and 0.5 per cent by the Tripura government.
