Six companies show interest to invest in Tripura power project.

At least six firms have shown interest in becoming a strategic investor in the recently commissioned Palatana power project in Tripura, with ICICI Securities being the advisers for this exercise.

The stakeholders of the Rs. 3,804 crore ONGC-Tripura Power Co. Ltd. (OTPC) include state-owned Oil and Natural Gas Corp. Ltd (ONGC), Infrastructure Leasing and Financial Services Ltd (IL&FS) and the Tripura government.

State-owned Bharat Heavy Electricals Ltd. (Bhel) built the project. 'ICICI has been mandated with the task of finding the strategic investor. They are advising about the short-listed firms,' said an ONGC executive requesting anonymity. He refused to name the firms.

The 726.6 MW project, inaugurated by President Pranab Mukherjee in June last year, is an integral part of the government's efforts to develop infrastructure in the north-eastern region-considered to have been neglected by New Delhi for decades.

The project has been touted as the single largest investment in north-east India.


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