Tuesday, 8 Nov, 2011
NEW DELHI: State-run NTPC has lost Rs 1,900 crore due to six months' delay in award of an equipment tender related to power projects worth Rs 53,000 crore because of a court battle over the award of the contract, company sources said.
The company has estimated a revenue loss of Rs 10.40 crore per day as it awaits Supreme Court's verdict for award of Rs 10,000 crore boiler contract. NTPC had disqualified Ansaldo Caldaie from the equipment supply tender but on March 1 the Delhi high court had ruled against NTPC's decision to disqualify Ansaldo Caldaie India, a 73% subsidiary of Gammon India. NTPC subsequently approached the Supreme Court.
Apex Court had turned down NTPC's plea to go ahead with the bidding procedure before final judgment. "The estimated cost of these projects is approximately Rs 53,000 crore and each day delay of these projects cause a generation loss of approximately 148 million units of electricity. This will cause approximately Rs 10.40 crore per day loss on return on equity employed," a senior NTPC official said.
Delay in the judgment is holding up five power projects at a time when the country faces a 14% energy deficit. About 7,260-mw generation capacity is proposed to be set up by NTPC benefiting energy-starved states like Bihar, Uttar Pradesh and West Bengal.
The matter has not come up for discussion after summer vacations of the Supreme Court though it was sought to be disposed off by July 20. Sources said the matter had been listed in the court's agenda several times but could not be taken up for deliberations for lack of time. The case was last listed on Oct 13 in the court's agenda.
Ansaldo was disqualified in the first round of the bidding of the boiler contract while Bharat Heavy Electricals Ltd, Larsen & Toubro and BGR Energy qualified. NTPC had disqualified Ansaldo Caldaie from the bulk tender saying it does not have competence to supply evaporator, water wall - a critical component in boilers. Ansaldo said supplying self-designed evaporators' was not mentioned as qualifying criteria in NTPC notice inviting tender.
(sourced Economic Times)
NEW DELHI: State-run NTPC has lost Rs 1,900 crore due to six months' delay in award of an equipment tender related to power projects worth Rs 53,000 crore because of a court battle over the award of the contract, company sources said.
The company has estimated a revenue loss of Rs 10.40 crore per day as it awaits Supreme Court's verdict for award of Rs 10,000 crore boiler contract. NTPC had disqualified Ansaldo Caldaie from the equipment supply tender but on March 1 the Delhi high court had ruled against NTPC's decision to disqualify Ansaldo Caldaie India, a 73% subsidiary of Gammon India. NTPC subsequently approached the Supreme Court.
Apex Court had turned down NTPC's plea to go ahead with the bidding procedure before final judgment. "The estimated cost of these projects is approximately Rs 53,000 crore and each day delay of these projects cause a generation loss of approximately 148 million units of electricity. This will cause approximately Rs 10.40 crore per day loss on return on equity employed," a senior NTPC official said.
Delay in the judgment is holding up five power projects at a time when the country faces a 14% energy deficit. About 7,260-mw generation capacity is proposed to be set up by NTPC benefiting energy-starved states like Bihar, Uttar Pradesh and West Bengal.
The matter has not come up for discussion after summer vacations of the Supreme Court though it was sought to be disposed off by July 20. Sources said the matter had been listed in the court's agenda several times but could not be taken up for deliberations for lack of time. The case was last listed on Oct 13 in the court's agenda.
Ansaldo was disqualified in the first round of the bidding of the boiler contract while Bharat Heavy Electricals Ltd, Larsen & Toubro and BGR Energy qualified. NTPC had disqualified Ansaldo Caldaie from the bulk tender saying it does not have competence to supply evaporator, water wall - a critical component in boilers. Ansaldo said supplying self-designed evaporators' was not mentioned as qualifying criteria in NTPC notice inviting tender.
(sourced Economic Times)
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