Mumbai/ Pune: The Government of India has approved in-principle to let Tiana Group set up, operate and maintain 90 power projects across the country in hydro, thermal, solar, wind and nuclear power segments along with Mitsubishi, Japan. The Memorandum of Understanding (MoU) for the same will signed in the coming ten days between the companies.
The Tiana Group, a new entrant in the power segment is committed to supplying low cost power to Indian consumers and wants to contribute to effort of pollution control in India. Along with Mitsubishi, the company will take steps in limiting pollution caused by the Groups’ thermal power projects.
“The Group’s thermal power projects in Guhagar and Anjarle (Ratnagiri, Maharashtra) will be free of pollution thanks to the German technology. These projects will not be harmful nor pollutants in any way. We will in fact try to process, use and reuse sea water in the thermal power generation. Our projects will generate employment, protect environment and improve the standard of living of the local people. We have already announced that the Group will offer land owners educational and medical facilities free of cost and will offer these facilities for others at concessional fees,” Mohammedi Fatehi, director, Tiana Group of Companies said.
The power plant at Guhagar is 1500 mega watt while the one at Anjarle will be 2000 mega watt capacity. Tiana Group which registered itself in August last year as a power projects’ company has an investment budget of close to Rs 70 crore out of which Rs 30 crore will be for projects within Maharashtra and the rest Rs 40 crore are reserved for power projects outside the state. Tiana and Mitsubishi Groups will also work together in areas such as infrastructure development including construction of roads bridges and residential, automotive, airlines, railways, shipping, cement, oil and gas, banking and financial services and electronics.
Source: Business Standard, May 13, 2010