Tridem to commence Port and Power projects in Nagapattinam
An Integrated Rs.10,000 Crore Port and Power Project in Nagapattinam, 350 Km from Chennai
Tweet-- TridemPortand Power Company Private Limited was incorporated as an SPV in 2007with the main objective of developing an integrated Port and Power Plant in Tamil Nadu. ISMT Limited, Pune,a listed Company, which is the largest integrated specializedseamlesssteel tubemanufacturer in Asia, with a reputation of 30 years standing and with an annual gross turnover of around half a billion US Dollars,joined hands with the Tridem Group to undertake this giant integrated Project.
The total investment of the project will be 10,000 Crore. The initial phase will have an integrated investment of Rs.4,000 Crore – Rs.2,500 Crore for power plant and Rs.1,500 Crore for the port. The investment will be funded through 30 per cent equity and 70 per cent debt.
Government Sanctions
The Government of Tamil Nadu gave a letter of facilitation to the Company in September, 2007 for setting up a Merchant Power Plant of 2000 MWcapacityinKilapidagai and Karapidagai North and South Villageareas ofNagapattinam District. The Government also accorded approval for establishing a captive port atVettaikaranIruppuVillagein Nagapattinam District, 3 km east of the above ThermalPowerPlant site. The Government further sanctioned the port limits with a seafront of 3.2 km for establishing a deep water Port.
This integrated project will occupy a sprawling3000 acreswasteland and convert it into economically vibrant infrastructural industrial base.
According to Company sources, this Coastal Power Plant will largely depend on imported coal for its fuel. In order to ensure fuel security for the coal fed Thermal Power Station, the Companyhastaken steps toinvest in coal mines in South and Central Kalimantan provinces inIndonesia, with adequate reserves.
POWER
Detailed Project Report
The Detailed Project Report for the Power Project was prepared by the globally reputedfirmFichtner Consulting Engineers (India) Pvt. Ltd. All relevant studies have been completed. Notice Inviting Tender (NIT) for Boiler-Turbine-Generator package including it’s auxiliaries through International Competitive Bid (ICB) was issued on 4th June 2009. The bids for BTG package have been received and are being evaluated.
Capacity
The total Power Plant capacity will have to be necessarily reached in stages due to the constraints onequipmentdelivery byManufacturers and is planned to be executed in phases.
The first2 phases will be sub-critical followed by super-critical technology based units.The Port and the First unit of the Power Plant will be commissioned in the last quarter of 2011 and the subsequent phases will start functioning every six months thereafter.
Sale of Power
Power will be sold to discoms and HT users. The Company has already signed relevant MOUs for execution of PPAs with Organizations like Power Trading CorporationLtd.,and other users.
PORT
Detailed Project Report
Tridem, engaged thereputed Oceanography Department of IIT,Madras, for preparing the Detailed Project Report for the Port, withoptimaldesigns, which was completed in February, 2009.The final design was also vetted by the Internationally Acclaimed Australian Port Consultancy Firm, “SOROS”. Under the guidance and supervision of IIT Madras, all the necessary Seabed Investigations, Shallow Seismic Surveys, Delineation of HTL, LTL and CRZ boundaries (by the National Institute of Oceanography in October, 2008), Mathematical Model Study for all weather Port, Geotechnical investigations, Rapid Marine Environmental Impact Assessment and Environmental Managerial Plan were completed in 2008.
Capacity
The all weather deep water Port will initially have a capacity of 20 million tonnes per annum.To start with40,000 DWTCoalvessels will call at the Port, fully equipped withmechanizedcoal handling systems with coal unloaders and conveyors in the Port area. The coal handling capacity will be 40,000tonnes per day. On completion of the second phase, 1,00,000 DWT vessels will call at the Port.
Vendor discussions and contracts are at advanced levels after negotiations with Dredging and Breakwater Contractors, Berth Construction Agencies, Equipment Suppliers and Civil Contractors. The construction works are scheduled to begin in September, 2009.
Financial Closure
The Company has achieved in-principle financial closure for Phase I of the project
Connectivity
The Port and Projectsites enjoy excellent road andbroad-gaugerailway connectivity.
The Company spokesman further said that “Tridem Port and Power Company on commissioning will offer unlimited employment potential to the localsand is bound to kickstart unparalleled infrastructural growth activities and will help unleash the immense potential for small and big industries in the vicinity”.