Lanco bids lower for UP power project

Lucknow: Lanco has emerged as the front-runner for setting up a 1,980-MW super critical thermal power plant at Bara in Allahabad district.

During the technical bid, which opened last night in the presence of Uttar Pradesh Chief Secretary Mr Atul Gupta, rates quoted by the Lanco were found lower as compared to two other companies, Jaypee Associates and Reliance Energy.

Lanco had quoted a price of Rs 3.12 per unit, the rate at which the company will supply power generated from the proposed plant, a senior official said. Though the rates quoted by Jaypee Associates and Reliance were not disclosed, the official said that their rates were higher than that quoted by Lanco.

Before finalising the developer, the bids will be considered by the Evaluation Committee, which has been set up by the state government for the purpose.

The official, however, said that the rate quoted by Lanco is much higher as compared to those quoted in earlier two bids, which were later on cancelled by the government. In a bid held in July last year, Reliance had quoted a rate of Rs 2.65 per unit.