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UJVN to form joint venture with GAIL

Friday 28th Oct 2011 1376

New Delhi : Uttarakhand Jal Vidyut Nigam Limited (UJVN), the state-run hydropower company which is venturing into gas-based power sector, would form a joint venture (JV)with GAIL to set up two power plants in Uttarakhand.

UJVN would also seek the Cabinet’s approval in this regard, principal secretary power Alok Jain told Business Standard. “We are in the process of finalising these two projects,’ said Jain. The joint venture would only be formed after the approval of the state Cabinet.

In June this year, UJVN had signed an MoU with GAIL to set up two gas-based power plants of 350 Mw each. A total of Rs 2,500 crore is proposed in the two power plants at Kashipur and Haridwar towns.

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