18 August, 2011
Sahara India Power Corporation announced a partnership with Korea East-West Power Co, a Korean government company, to set up power plants with combined capacity of up to 6,000 mega watt.
The agreement signed between the two companies allows them to jointly participate in tariff-based bidding for ultra-mega power projects (UMPPs) and other opportunities in India. An UMPP has a capacity to generate 4,000 MW of electricity. The deal is an extension of an earlier tie-up between Sahara India Power and Korea East-West for setting up a 1,320 MW power plant in Titlagarh, involving an investment of around Rs 8,000 crore.