NTPC keen for 50% stake in OTPCL power plant.

NTPC Ltd., the country's largest thermal power producer, has evinced interest to pick up 50 per cent stake in the 2,400 MW (3x800) power project to be set up at Kamakhyanagar in Dhenkanal district.

The mega power project is being developed by Odisha Thermal Power Corporation Ltd. (OPTCL) where two state PSUs — Odisha Mining Corporation (OMC) and Odisha Hydro Power Corporation Ltd (OHPC) hold 50 per cent stake each.

'NTPC has given a proposal to acquire 50 per cent stake in the OTPCL project But the government has not taken a call on it yet. To accommodate NTPC, each of the joint venture partners have to dilute their stakes,' said a government official.

Besides NTPC, engineering giant Larsen & Toubro (L&T) and Bharat Heavy Electricals Ltd. (Bhel) were also inclined to pick up stake in OTPCL's project. Both these central PSUs were keen for only 26 per cent stake each and that too with a rider that their equipment would be used in the power plant.

This belied the state government’s initial plan of offloading 74 per cent stake presumably because both its PSUs had no previous experience of building and running thermal power plants.

Total land finalised for the project taken up at a cost of Rs 17,000 crore, is 1,767.90 acres. This includes 1,074.95 acres of private land, 684.25 acres government land and 8.7 acres forest land. Alienation of government land is under process. Forest diversion proposal for 8.7 acres of land has been submitted to the principal chief conservator of forests.

BS