NTPC seeks MEA’s help to revive Barh project
NEW DELHI . In an attempt to complete its ill-fated Barh project in Bihar, state-owned NTPC Ltd wants India’s foreign ministry to impress upon the Russian government for extending $570 million fiscal support to JSC Technoprom Export (TPE), a key equipment vendor.
The issue with the potential of becoming a diplomatic snafu is being compared to India’s delayed acquisition of refurbished ex-Soviet aircraft carrier admiral Sergey Gorshkov, rechristened as INS Vikramaditya in November 2013, which tested India’s commercial and diplomatic interests with Russia.
The first phase of the Barh project became embroiled in a controversy after India’s Central Bureau of Investigation concluded that TPE breached its contract to supply boilers for the three units of 660MW each for Rs.2,066 crore. The government, in the interest of India’s relationship with Russia, had then brokered a compromise between NTPC and TPE. TPE has now linked the completion of the project subject to the financial support by the Russian government. MInt
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