The villagers, led by Budha Ismail Jam, along with several other farmers and fishermen, allege that coal-fired Tata Mundra Power Plant in Tunda village in Kutch district, has resulted in widespread environmental damages.
The US govt has urged the Supreme Court to reverse a lower court order on the Tata Mundra Power Plant in Gujarat funded by a financial wing of the World Bank
India has seen rapid progress in various big-budget infrastructure projects.
China on Tuesday announced a major policy change for its crisis-ridden power sector by allowing coal-fired power plants to charge their industrial and commercial customers market-driven prices. The National Development and Reform Commission (NDRC) of China said the electricity generated by coal-fired plants would discover price in market trading "in an orderly manner" from October 15. This is being done to pass on the high costs of coal and is being held up as the boldest reform in the Chinese power sector.
Anil Sardana, managing director of India's largest private power producer, says though the tariff freeze by some states is causing tremendous stress, the company will go ahead with the expansion of the Mundra project.
The proposed Krishnapatnam ultra mega power project - the third 4,000 Mw project to go under the government's hammer - has attracted just three bids from Sterlite, Reliance Power and Larsen & Toubro, though there were nine qualified bidders for the project.Those who have not bid after expressing an interest include Essar Power, NTPC, Japan's Sumitomo Corporation, China Light and Power (with GMR) Israel Electric Company (with DS Construction) and Tata Power.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
The negotiations for a bail-out of the two plants could see continuity though a weakened BJP majority is a cause of concern among analysts, says Amritha Pillay.
The 30-share Sensex ended down 297 points at 27,438 and the 50-share Nifty closed 93 points lower at 8,305.
Of the 23 Indian billionaires mentioned in the Bloomberg Billionaires Index, only one saw a reduction in net worth, with the companies owned by most of them outperforming the Nifty 50 index by a big margin.
In the next three years, Tata Power will invest anywhere between $150-200 million.
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