Date:12/07/2006 URL: http://www.thehindubusinessline.com/2006/07/12/stories/2006071204610200.htm

Tata Power signs pact with Siemens arm

Our Bureau

To take part in tariff based bidding process

Mumbai , July 11

Tata Power Company Ltd has signed a `Development Agreement' with Siemens Project Ventures GmbH (SPV), Germany, to jointly participate in the bidding process that will select developers for the ultra mega power projects that are being planned across the country, a news release said.

SPV is a wholly-owned subsidiary of Siemens Financial Services — Siemens AG's financial services group.

This company concentrates on equity investments in infrastructure projects worldwide. SPV's investments focus on power generation, telecommunications, airports and other areas of interest to the Siemens Group.

Currently, SPV has investments in eight different projects involving a total project volume of $4.55 million. The two companies will together take part in the tariff based bidding process for the Sasan (Madhya Pradesh) and Mundra (Gujarat) projects for which Tata Power has received the qualification to bid.

Consortium

Following the signing of the agreement, the two parties will co-operate in the development and implementation of the two projects.

Tata Power had only recently signed an agreement with two international players — Siemens Power Generation, Germany and Doosan Heavy Industries & Construction Co Ltd, Korea. This was to form an Engineering-Procurement-Construction consortium for the design and construction of power plants based on supercritical technology that is required for such large sized units. This EPC tie-up would form the technical basis of Tata Power's bids for the two ultra mega power projects.