Thursday, November 17, 2005
Nod to Bhel`s Sudan unit
Our Economy Bureau / New Delhi November 17, 2005
The Ministry of External Affairs (MEA) has approved the Bharat Heavy Electricals Ltd' proposal to set up a 1,000-MW turnkey gas-based power project in Sudan.
The BHEL has also been given the right to choose its partners for the distribution of electricity that will be generated.
The plant will be set up at an investment of $ 500 million, Rakesh Kumar, special secretary in the MEA said at the Third Indo-Arab Conference organised by Assocham.
The project in the White Nile state of Sudan will be commissioned after Sudan and India signed a formal agreement by the beginning of next year.
Kumar said the Indian government would provide a line of credit of $ 350 million for the project, while the Sudan government would chip in with $ 150 million.
He added that the Indian government's recent line of credit within the $ 110-million range to Sudan had been fully utilised.
He also announced that further lines of credit for development projects in the African country would be extended.