NTPC cancels Rs 210 cr contract with Punj Lloyd

State-run NTPC has cancelled a Rs 210-crore contract with Punj Lloyd due to alleged

RELATED ARTICLES

"poor performance" of the private infrastructure company.

According to sources, the contract was terminated due to poor performance of the contractor, Punj Lloyd.

Punj Lloyd did not immediately revert to e-mail seeking comments.

The private firm had won the contract from NTPC for civil work of a 750 MW thermal power project in Bongaigaon district of Assam in 2011.

Punj Lloyd's scope of work in the contract entailed underground and over ground civil, architectural and structural work for the main plant etc and construction of the administration building and auditorium.

The group is engaged in engineering, procurement and construction services in energy and infrastructure sector.

Yesterday, the public sector firm cancelled a Rs 23,000 crore contract with Thiess Minecs India due to delays in development and operation of the Pakri-Barwadih coal block.

Thiess Minecs India was appointed mine developer and operator for NTPC's Pakri-Barwadih captive coal block in Jharkhand on November 30, 2010, after a global tender.

The company wanted to start mining coal to reduce dependence on the market for the fuel. NTPC generates over 43,000 MW power from all sources of energy.

Shares of NTPC were trading at Rs 122.80, up 1.24 per cent on the BSE.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • State-owned banks can ride technology surge to penetrate retail segment

    For the first time in recent history, two large private sectors banks, ICICI and Axis have reduced their headcounts.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Amita Sharma

The rabbit hole of outcome budgets

Would you tell me, please, which way I ought to ...

Zehra Naqvi

Dignity of labour is dignity of life

M Rafi Khan, a retired police IG, used to ...

Gautam Gupta

Retailers have it tough, thanks to e-commerce

For the past few months our focus has been on ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture