India's L&T unit lowest bid for power plant-sources
By Ketan Bondre
MUMBAI, Nov 16 (Reuters) - L&T Power Development, a unit of Larsen and Toubro (LART.BO), is the lowest bidder for project to build and run a 1,320 MW thermal power plant in the Indian state of Punjab, two sources involved in the process told Reuters on Monday.
L&T Power Development was the lowest bidder at 2.89 rupees a unit, said a senior official with Punjab State Electricity Board (PSEB) who declined to be named.
"Three bids came in very close, at less than three rupees a unit," he added.
A senior official of one of the firms that bid for the project but missed out confirmed that L&T Power Development was the lowest bidder.
An L&T group spokesman said the firm had bid for the project but declined to comment on the outcome.
Other bidders for the project included Lanco Infratech (LAIN.BO), GMR Infrastructure (GMRI.BO), JSW Energy and Adani Power (ADAN.BO), the government official said.
The coal-based project will be developed on "Build-Own-Operate" basis in Rajpura, and the PSEB had sought bids through tariff-based competitive process. (Editing by John Mair)
