PLTL To Hold Crucial Board Meet On Thursday

Mumbai, Nov 3: | Updated: Nov 4 2003, 05:30am hrs
Power Link Transmission Ltd (PLTL) - Earlier Tala Delhi Transmission Company Ltd, a joint venture (JV) between the state-run PowerGrid Corporation and Tata Power Company (TPC) would hold a crucial board meeting here on November 6, the first after it was granted transmission licence by the Central Electricity Regulatory Commission (CERC). The maiden board meeting would deliberate on the crucial issues relating to the financial closure, organisational structure and award of various contracts.

Sources attached to the JV told FE that the meeting is crucial as it would draw future course of action in the wake of grant of transmission license by CERC. The transmission licence has been granted for the evacuation of power from the 1,020 mw Tala hydro-electric project in Bhutan.

The PowerGrid Corporation holds 49 per cent while TPC has picked 51 per cent equity in the PLTL. The transmission project is expected to be commissioned in 2006.

PLTL had filed its petition before CERC under 15 (1) of the Electricity Act (EA) 2003. The Tala-Delhi transmission project, spanning over 1,200 km of 400 kV transmission line from Bhutan to Delhi would facilitate evacuation of power from Tala project from the eastern grid to the northern grid.

The Central Electricity Authority (CEA) had issued the techno-economic clearance for this project on April 18, 2002 at an estimated constant cost of Rs 2,202.74 crore including interest during construction (IDC) of Rs 292.16 crore (first quarter of 2001 price level) and estimated completed cost of Rs 2,452.55 crore including IDC Rs 313.09 crore. The transmission system, including the substations has received the Centres approval at an estimated cost of Rs 1,980.70 crore including IDC of Rs 217.92 crore (second quarter of 2002 price level). TPC and PowerGrid Corporation had signed the shareholders agreement on July 4 this year for the Tala transmission project.