Hindujas begin work on $15 bn power plan

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Paris, October 1: : The London-based Hinduja conglomerate has begun work on the 15-billion dollar investment plan for India's power sector that will result in generating 10,000 MW for the national electricity grid.

"These are the initial phases of a plan to develop, over the next few years, a pipeline of power projects aiming at a capacity of 10,000 MW...This means a total investment of some 15 billion dollars," the Hinduja Group head in France Nader Hakimi said here last evening.

However, President of the Hinduja Group of Companies Gopichand P Hinduja said at the India-EU Business Summit that the Indian Government needs to pull up its socks for transparency and accountability in terms of clearing the mega projects.

"There should be a time limit for clearance of the projects and accountability be fixed for delays," Hinduja said at the Summit, organised by the French industry chamber MEDEF, FICCI and CII in Paris.

Hinduja said the group with presence in 32 countries is committed to investing in India's infrastructure sector.

"Our commitment is visible with our 1,000 MW power generation project in Andhra pradesh and a new 4,000 MW project in Tamil Nadu," he said.

The projected investment in India's infrastructure sector over a 10-year horizon is 1.5 trillion dollars, which is equivalent to one and a half times of the country's present GDP.