The Indian government had kicked off the auction of two ultra mega power projects envisioned to be constructed under the new bidding framework and would cost around INR40,000 crore.
The primary agency to bid out the 4,000 megawatt power projects located in Orissa and Tamil Nadu is Power Finance Corp. The government agency would be hosting four meetings with possible bidders within the next 20 days in locations such as Bhubneshwar, Chennai, Delhi and Mumbai. This was confirmed by a senior company official.
According to the official, "The company will invite preliminary bids from companies after the pre-bid conferences. The conferences are being held to educated(sic) bidders about the new bidding framework, bidding process, application process and answer any queries that they may have."
Under the new bidding guidelines, the chosen developers would not retain ownership but only remain as concessionaires to the mentioned power projects. A select group of ministers met last August 23 and approved the bidding guidelines, most of which are being opposed by power companies.
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