The Government has taken a stride to take over troubled power plant of Corporate Power limited owned by Abhijeet Group at Chandwa of latehar. Progress of 1080 MW capacity power plant has been stalled firstly due to cancellation of coal block and later the promoter plunging into financial crisis.
“The Cabinet has decided to appoint Mecon as consultant on nomination basis to conduct a due diligence. It would prepare a feasibility report for the Corporate Power Plant at Chandwa and examine feasibility of it being taken over jointly by the NTPC and the State Government. Mecon would study asset and liabilities of the plant,” said Cabinet Secretary SK Satpathy after Cabinet meeting on Wednesday. The consultancy firm would be paid Rs34.5 lakh for the service.
The much talked about power plant is facing severe crisis as of now. After most of the construction work completed the plant site saw series of fire causing huge damage to its costly equipments and assets. Cancellation of coal blocks allocated to the company also contributed to slowing down the pace of the plant.