Credit crisis delays bids for 4,000MW power plant

Credit crisis delays bids for 4,000MW power plant

New Delhi: The Indian government has defered bidding for a 4,000 megawatt power plant by a month because of the credit crisis, Power Secretary Anil Razdan said on Monday.

“Bids for the plant at Tilaiya in eastern India could now be submitted until 1 December. Nine companies had qualified to bid for the project and six to seven of them, including the Tata group, had requested the government postpone bidding", he said.

“We want to ensure there is no credit squeeze for genuine developers. We did receive requests from prospective bidders for postponement of (the) closing date," he told reporters at a conference.

Razdan earlier said output of the Dabhol power plant in western India had fallen to 900 mw from 1,200 mw because of a turbine collapse.