CESC acquires Dhariwal Infra

Date: 07-06-2010

Calcutta Electric Supply Company (CESC) has just acquired 100% ownership in Dhariwal Infrastructure by buying the remaining 50% for a little over Rs 100 crore. Dhariwal Infrastructure is executing the near Rs 3,000-crore greenfield thermal venture at Chandrapur, Maharashtra. The Chandrapur thermal project achieved financial closure and secured the crucial clearance from the environmental ministry.

The 2x300 mw Chandrapur thermal venture will be executed in 36 months from the zero date. The first 300 mw unit will come up in 33 months by March 2013. In the coming weeks, CESC is likely to finalise the near Rs 1200-crore EPC contract. While the price bids have been opened recently, CESC is yet to take a final call on whether to award the contract to a Chinese vendor or India’s Bhel. CESC has already awarded the near Rs 1100-crore balance of plant (BoP) contract to Punj Lloyd.crack crack