Mumbai-based Emco Ltd through Emco Energy Ltd has initiated the process to set up its first power project, a 270MW thermal power plant at Warora in the Chandrapur district of Maharashtra to be commissioned in two years. The company has also chalked out plans to set up power plants totalling 4000MW at a later stage. Mr Deepak Khandelwal CFO told Projectmonitor that the project would require an investment of INR 1240 crore, which was originally INR 1100 crore. He said that “While 80% of the funds will come from financial institutions, 20% will come from internal accruals.” Mr Khandelwal said that his company had already obtained the coal linkage from the Government of India as well as water linkage and land. The company is in the process of selecting EPC contractors through an international competitive bidding process. The selected bidders will be required to undertake designing, engineering, manufacture, supply, construction, erection, testing, commissioning of various packages such as steam generator, turbine generator, coal and ash handling plants, among many other tasks as a single EPC package on lump-sum price basis or as different packages.
