GMR's Vemagiri Power Plant gears up

Thebullishtrends : GMR Infra shares closed in BSE today at Rs.247.

The GMR group power plant situated at Rajahmundry in Andhra Pradesh will start generating power from January'2008 onwards, intially for a period of four months. This follows the State Government assurance to provide natural gas from GAIL India Ltd.

GMR's 388.5 MW Vemagiri plant, which was commissioned in the November'2006, operates on combined cycle technology and uses natural gas is fuel. It is one of the most cost effective independent Power Producer in India. Under the power supply agreent with state owned APGENCO will buy the power for 23yrs from this company.

GMR group is having other power plants , 200 MW at Chennai, and another one for Naptha based power plant at Mangalore for 220 MW.