TANGEDCO cancels energy deal with BGR Energy Systems
POWER & RENEWABLE ENERGY

TANGEDCO cancels energy deal with BGR Energy Systems

Chennai-based engineering services utility BGR Energy Systems told the media that Tamil Nadu Generation and Distribution Corporation (TANGEDCO) has cancelled the Rs 4,442.75 crore contract for setting up the 660 MW Ennore Thermal Power Station and forfeited a Rs 5 crore deposit.

BGR Energy Systems had received the letter of intent (LOI) from TANGEDCO for the execution of 1x660 MW supercritical Ennore thermal power station expansion project under the engineering procurement and construction (EPC) mode for Rs 4,442.75 crore. The company told the media it has been notified by TANGEDCO that the LOI regarding the award of contract has been cancelled for non-submission bank guarantees for security deposit and performance bank guarantee by the company and consequential forfeiture of earnest money deposit (EMD) of Rs 5 crore.

BGR has moved the Madras High Court for quashing the said cancellation of LOI and consequent direction to accept bank guarantees as per Government of India instructions issued in the wake of the Covid-19 pandemic.

Image Source


Also Read: TANGEDCO cancels controversial Rs 1.3k cr coal import tender

Also Read: Fusion Fuel, BGR Energy to develop green hydrogen projects in India

Chennai-based engineering services utility BGR Energy Systems told the media that Tamil Nadu Generation and Distribution Corporation (TANGEDCO) has cancelled the Rs 4,442.75 crore contract for setting up the 660 MW Ennore Thermal Power Station and forfeited a Rs 5 crore deposit. BGR Energy Systems had received the letter of intent (LOI) from TANGEDCO for the execution of 1x660 MW supercritical Ennore thermal power station expansion project under the engineering procurement and construction (EPC) mode for Rs 4,442.75 crore. The company told the media it has been notified by TANGEDCO that the LOI regarding the award of contract has been cancelled for non-submission bank guarantees for security deposit and performance bank guarantee by the company and consequential forfeiture of earnest money deposit (EMD) of Rs 5 crore. BGR has moved the Madras High Court for quashing the said cancellation of LOI and consequent direction to accept bank guarantees as per Government of India instructions issued in the wake of the Covid-19 pandemic. Image Source Also Read: TANGEDCO cancels controversial Rs 1.3k cr coal import tender Also Read: Fusion Fuel, BGR Energy to develop green hydrogen projects in India

Next Story
Products

Viva ACP Launches FR A1-Rated Honeycomb Panels for Fire Safety

Viva, Asia’s largest manufacturer and supplier of aluminium composite panels (ACP) introduced its FR A1-rated Honeycomb Panels, setting a new industry benchmark for fire safety and architectural excellence. Engineered to deliver exceptional performance, these panels combine advanced fire-resistance technology with aesthetic versatility, offering a revolutionary solution for safety-critical environments.The FR A1 rating represents the highest standard of fire resistance under the European Standard EN 13501-1, signifying non-combustibility and zero contribution to fire, smoke, or toxic emissio..

Next Story
Real Estate

Almal Real Estate Expands into Commercial, Global Markets

Almal Real Estate Development is soon to announce its upcoming expansion into new verticals and international markets as part of its strategic growth plans for 2030. The company, known for its innovative luxury residential and hospitality developments, is preparing to diversify into the commercial sector with the introduction of The Smart Space, a network of business centers in UAE featuring five-star amenities. Additionally, Almal is entering new markets in Bali and Thailand as a community developer, focusing on villa and townhouse projects.The expansion into the commercial real estate sector..

Next Story
Infrastructure Urban

NABARD Approves Rs 9.03 Billion for 127 Projects in Himachal

The Himachal Pradesh government has secured approval from the National Bank for Agriculture and Rural Development (NABARD) for 127 projects worth Rs 9.03 billion for the 2024-25 fiscal, Chief Minister Sukhvinder Singh Sukhu announced. During a meeting with MLAs from Kangra, Kullu, Kinnaur, Solan, Chamba, Bilaspur, and Lahaul-Spiti districts to discuss priorities for the 2025-26 budget, Sukhu said the approved projects include 50 MLA-priority schemes under the Public Works Department, valued at Rs 4.12 billion, and 23 MLA-priority schemes under the Jal Shakti Vibhag, costing Rs 1.79 billio..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?