Neco Jayaswals Abhijeet Group bags MIHAN's power project

Tuesday, 15 May 2007

It is reported that Neco Jayaswal Group’s Abhijeet Group has secured an INR 850 crore power project for setting up a 100 MW coal based power plant for the proposed Multimodal International Hub Airport at Nagpur. The work is expected to begin within 30 months.

Abhijeet Group emerged as the lowest bidder with a tariff of less than INR 3 per KWH.

40 players had initially evinced interest among which Abhijeet Group, KSK Energy of Hyderabad, Cethar Vessels of Trichy, Shriram EPC from Chennai and Crompton Greaves of Mumbai were shorlisted. Ernst & Young were the exclusive transaction advisors to MADC for the selection process.