Hyderabad, Sep 1 (IANS) Prime Minister Manmohan Singh Wednesday laid the foundation stone for the NTPC-BHEL joint venture power equipment manufacturing plant at Mannavaram village near Srikalahasthi in Chittoor district of Andhra Pradesh.
Addressing a gathering on the occasion, the prime minister said the project with an investment of Rs.6,000 crore would provide direct employment to about 6,000 men and women and indirect employment to 25,000 persons.
NTPC-BHEL Power Projects Private Limited (NBPPL) is a joint venture between National Themal Power Corporation and Bharat Heavy Electricals Ltd (BHEL) to manufacture power plant equipment.
Singh said the availability of electricity was critical to the nation’s development and hoped that the project would go a long way in improving the economic conditions of people of the backward region.
The prime minister said bridging the gap between the demand and supply of power was necessary to meet the aspirations of the people.
‘It is for this that we have drawn up a very ambitious programme for addition of power generation capacity in the 11th and 12th five year plans,’ he said.
‘This large addition in power generation capacity will mean a much larger demand for power equipment. I am very happy that our public sector has come forward to take a lead in manufacturing power equipment in our country to help us achieve our targets in the power sector,’ Singh said.
He noted that the two Navaratna companies, NTPC and BHEL, have joined hands to form a new company, thus bringing together their experience and expertise. The plant will be able to produce power equipment required for additional capacity of 5000 MW per annum by 2014-15.
‘It is a moment of pride but it is also an occasion to pay homage to a tall leader, Y. S. Rajasekhara Reddy. Tomorrow (Thursday) is his first death anniversary. It was his untiring efforts that brought this project to this backward area of Chittoor district,’ Singh said.
Heavy Industries Minister Vilasrao Deshmukh said the project would be completed in five years.
Andhra Pradesh’s Minister for Major Industries Kanna Lakshmi Narayana said the state government has allotted 783 acres for the project.
