PSPCL is forcing L&T to generate power in the range of 600 MW in daytime and reduce it to around 200 MW during night. It is affecting the boiler life very badly as this being a super critical unit, should run on constant load for best performance and economy. The company is losing about Rs. 2.5 crore per day on account of this.
The railway track to the plant is incomplete due to a court case instituted by a farmer at the instigation by an opposition party MLA who never wanted the ruling party to take the credit of development.
The cost of transportation of coal by trucks from Mandi Gobindgarh to the site of plant and non passing of cost of washing of coal are other irritants
L&T has also been facing problems on account of non passing of benefits for declaring it as Mega Project. The reported loss may be to the tune of Rs. 500 crore. Other benefits not granted includes non compensation of cost to the tune of Rs. 50 crore due to change of site to seismic zone ,non compensation of cost amounting to Rs. 178 crore for dedicated railway corridor.
L&T being a professional company is fed up of all these issues emerging out of negative attitudes prevailing in Punjab Government and PSPCL and thus plans to sell the thermal plant at a loss of more than Rs. 2000 crore.
The Rajpura Thermal plant executed at a total cost of around Rs.9, 600 crore may fetch anything between Rs. 7000 crore to 7700 crore as each megawatt can fetch Rs. 5 crore to 5.5 crore in open market. L & T is projecting a loss of Rs. 2000 crore on the sale of project.
A leading Industrialist from Punjab remarked that L&T plan to walk out of Punjab proves that no honest professional group can survive the inefficiency of the state government and PSPCL. He said that while industrialists are treated like gods in Madhya Pradesh and Gujarat, they are dragged in Punjab to face red tapes and legal battles. These have contributed to make Trident and Nahar groups to shift their expansion plans to MP.
It may be mentioned that CERC had carried out a comparative analysis of 14 thermal projects in 2010 that had been awarded under competitive bidding. In case of Rajpura thermal the CERC assessed that the cost plus levelised tariff would be Rs 3.4822 per unit as against the bid rate of Rs 2.89 per unit.
CERC had assessed the capital cost of Rajpura project as Rs 6862 Crore. This indicates that L&T figure of Rs 9600 Cr is highly inflated and is being publicized so as to fetch a higher sale price for the project.
The most popular citizen journalists' reports on merinews chosen automatically on the basis of views and comments