INSUBCONTINENT EXCLUSIVE:
The Tripura government will soon start dialogue for purchase of 26 per cent equity shares of the Palatana gas thermal power project from the
Infrastructure Leasing and Financial Services (ILFS).
The 726.6 mw gas based power project, run by ONGC Tripura Power Company (OTPC), was
formally started in 2014 as a joint venture of the ONGC, the IDFC, the ILFS and the Tripura government.
"The state of Tripura owns 0.5 per
cent share in the project
We have come to know from the central government that the ILFS will offload its entire 26 per cent share
We are in the process of opening dialogue with them to buy all the shares because the Palatana power project is a very profitable company,"
Law Minister Ratan Lal Nath told reporters.
The ministry of power allocated over 58 per cent energy from the Palatana project to north
Out of Tripura's share in the projects output, the state government is selling 160 mw on a daily basis to neighbouring Bangladesh.
The
ILFS purchased 26 per cent equity shares at Rs 291.20 crore
With increase in value, the equity shares are now estimated at Rs 300 crores, Nath said
The minister claimed that the value of the shares is likely to appreciate in future.
