Patel Engineering announced that it has received approval from Government of India for Coal Linkage for is Thermal Projects.
The Company has got the much-needed Coal linkage for its proposed Thermal Power Projects to be implemented by its wholly owned subsidiaries. The much-awaited Coal linkage has been approved by the Government of India under the 11th Plan Period and the coal deliveries are expected by 24 month from now.
Mr. Rupen Patel, Managing Director said "We have achieved yet another important milestone for our Thermal Power Project. This coal linkage allotment from GOT is the last for the 11th Plan period as the Ministry of Coal is now accepting applications for coal linkage only for 12th Plan period where in the linkage is subject to availability, which s uncertain."
The land acquisition for Company's Tamil Nadu Project is completed. Most of the statutory clearances viz Environmental, TNMB permission for Seawater drawl, NOC from Airport Authority of India for stack height are in place. The financial closure for the said project will happen by end of third quarter 2010-2011.