Vedanta, Evonik sign O&M deal for Orissa power plant

April 26, 2010 - PRLog -- Sterlite Energy Ltd, a company of Vedanta Resources Plc Of London, Thursday signed an operation and maintenance (O & M) agreement with Evonik Energy Services India, a wholly owned subsidiary of Evonik Energy Services GmbH for their 4x600 mw units at Jharsuguda.

With this Sterlite, a flagship company of Vedanta group, has entered into global partnership with Evonik, the largest IPP of Germany.

The Vedanta Group’s whome time director M Siddiqi said the contract is for 82 months and the payout would be about Rs 1400 crore at the rate of Rs 200 crore per annum. The managing director of Evonik Energy Services (India), JT Verghese, said: “The contract is a path breaking initiative taken by Sterlite to bring in professional O&M services to establish world class technical standards & systems for achieving high availability and reliability based on the long years of experience of Evonik who are operating large sized units in Germany and elsewhere.”

Sterlite Energy’s 2,400-mw ( 4 x 600 mw) power plant is in the final stages of commissioning with the first unit expected to become commercially operational by May 2010 with each of the other units expected to be commissioned within one year, said a spokesperson of the company. The project is implemented by SEPCO-III, the Chinese EPC contractor who has built the plant in record time.

The spokesperson said all responsibilities of smooth & reliable operation & maintenance will be with Evonik. Expatriate and Indian experts and operational staff from Evonik have been mobilised and are assisting the EPC Contractor apart from setting up systems for worldclass operation.

Source: Financial Express