The government is expected to open the financial bids for the 4,000-MW Ultra Mega Power Project (UMPP) at Tilaiya in Jharkhand today. The financial and technical bids for the coal-based thermal power project were invited on December 29 and the final financial bids were to be opened within 15 days.
NTPC, Reliance Power, Lanco Infratech, Jindal Power and Sterlite Energy are in the race for bagging the project. The project would be awarded to the lowest bidder, according to Power Finance Corporation (PFC) sources.
The project involves an investment of around Rs 16,000-18,000 crore and would have a debt equity ratio of 70:30. Tilaiya is the fourth UMPP to be awarded to a developer, the earlier three projects have been bagged by Reliance Power (Sasan and Krishnapatnam) and Tata Power (Mundra).