ONGC Tripura Power Project
In order to foster economic growth in the North Eastern States, IL&FS in partnership with ONGC and the State of Tripura is engaged in development of a 726 MW Natural gas based combined cycle thermal power project and associated 650 kms 400 kV transmission line in Tripura. The power project would help in eradicating regional imbalances in the country.
IL&FS IDC has been appointed as the Transaction Advisor by the ONGC Tripura Power Company Ltd (a Joint Venture of ONGC, GoT and IL&FS) Company for assisting it in development of the project encompassing all activities from site identification, land acquisition, preparation of DPR, finalisation of Project contours, obtention of project clearances / approvals till award of EPC contract(s). ONGC Tripura Power Company has now appointed IL&FS for arranging the residual equity for the project.
The project is in advanced stages of implementation. EPC contract of about Rs.22 billion has already been awarded to BHEL on August 2008. The financial closure for the project has been achieved.
The project is expected to be amongst the largest investment in the NER since independence.