Ministry of Finance along with Ministry of Power has started formulating a policy to save around 40 gigawatt (gw) of stressed power projects worth a couple of lakh crore by introducing the 'Warehousing Model'. "The warehousing model will house stressed power assets, manage them, revive them and give them adequate time to operate till the demand picks up. Even Jaypee Group's Bara (Rs 11,493.5 crore), Nigrie (Rs 6,211 crore) and Bina (Rs 2,253.85 crore) are among financially stressed. Similar is the fate of Essar's Mahan (Rs 5,951 crore) and Tori (Rs 3,112 crore) power plants, and Lanco Group's Amarkantak (Rs 8,782 crore), Anpara (Rs 3,071 crore), Vidarbha (Rs 4,762 crore) and Babandh (Rs 6,976 crore). In the case of GMR Energy, there are three such projects, namely Warora (Rs 2,905 crore), Raikheda (Rs 8,173.9 crore) and Kamalanga (Rs 4,100 crore).

Source: dna June 03, 2018 23:37 UTC