GVK Coal (Tokisud) Company Pvt. Ltd., a subsidiary of GVK has invited request for qualification (RFQ) for selecting a mine developer cum operator for its captive mine to meet the feedstock requirement for the 2x270 mw thermal plant GVK Power (Goindwal Sahib) Ltd., coming up in Tarn Taran district of Punjab.
The developer-operator has the mandate to mine 2.5 million tonnes per annum and take care of operations and maintenance of coal handling plant including conveying and mechanised wagon loading at Railway siding.The project developer would also be entrusted the task to comply with various conditions laid down by the Ministry of Environment and Forests, including rehabilitation and resettlement of affected people.
The project is being awarded on a turnkey basis and the mandate includes coal handling plant. The land required for the project has been taken care by the GVK arm.
PHASE II EXPANSION
The Hyderabad-based diversified infrastructure company had in February 2011signed up with The Punjab State Electricity Corporation to take up expansion of the project to 1320 mw in phase II.
The coal subsidiary, which is developing Tokisud north sub-block mine in South Karanpura coalfield in Hazaribagh in Jharkhand, has achieved financial closure last fiscal. The project cost of Rs. 300 crore is being met through 25 per cent equity of Rs.75 crore and the debt component of Rs. 225 crore.
IDBI Bank has syndicated the debt apart from being one of the lenders in the consortium of banks. The company shares closed the trade at Rs. 22.20 against previous close of Rs. 22.10.