Videocon to set up 5K MW projects in Gujarat, WB, Chhattisgarh

NEW DELHI: Consumer electronic maker Videocon Industries on Wednesday said it will set up thermal power projects aggregating 5,000 MW in Gujarat, West Bengal and Chhattisgarh along with a international player.
   
The company said it would foray into the sector by setting up a 1,600 MW imported coal-based power plant in Gujarat and has invited bids from global EPC contractors for this purpose.
   
"Videocon Industries through its SPV, Pipavava Energy Pvt Ltd has decided to set up 2x800 MW imported coal-based super critical thermal power project near Pipavav port in Gujarat," the company said in an advertisement.
    
Contractors for the project, to be implemented on a single turnkey basis, would be selected through international competitive bidding, it added.
    
The last date for submission of bids is June 9, 2008.
    
Videocon Industries is a $ 5 billion group with presence in energy, oil and gas and coal mining verticals.

Contractors for the project, to be implemented on a single turnkey basis, would be selected through international competitive bidding. The last date for submission of bids is June 9, 2008.
    
The first unit of the plant is expected to commence operations from mid-2012 and the second unit in six months thereafter.
    
On December 17, Videocon said it will hive off its power, oil and gas, and coal renewable energy into wholly-owned special purpose vehicles.
    
Shares of the company closed at Rs 627.20 each, down 0.32 per cent on the Bombay Stock Exchange.