Reliance Power's Krishnapatnam Project Faces Blocks, PTI Says
Reliance Power Ltd. (RPWR)'s 4,000-megawatt power project in Krishnapatnam.
- (1888PressRelease) June 22, 2011 - Reliance Power Ltd. (RPWR)'s 4,000-megawatt power project in Krishnapatnam, Andhra Pradesh state, is facing road blocks partly because of new Indonesian laws requiring coal to be sold at market prices, the Press Trust of India reported, without saying where it got the information.
Indonesian coal mines previously had the freedom to bilaterally agree on coal prices with buyers, the report said. Other issues affecting the Anil Ambani Group company's project include the condition of the soil where the foundation for the boiler has to be laid, and land disputes at strategic locations, the report added.
Existing coal supply agreements with the Indonesian coal mining companies will have to be modified to comply with the new coal-pricing regulations before September, impacting projects that depend on imported coal including the one in Krishnapatnam, the report said.
http://www.bloomberg.com/news/2011-06-19/reliance-power-s-krishnapatnam-project-faces-blocks-pti-says.html
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