Tridem to start integrated port and power project
Tridem Port & Power Company Pvt Ltd will soon commence its integrated port and power project in Nagapattinam, near Chennai. Tridem was incorporated as an SPV in 2007 with the main objective of developing the project. ISMT Ltd, Pune, a listed Company, (integrated specialized seamless steel tube manufacturer ), has joined hands with the Tridem Group to undertake this giant integrated Project.
The total investment of the project will be Rs10,000 crore. The initial phase will have an integrated investment of Rs4,000 crore – Rs2,500 crore for power plant and Rs1,500 Crore for the port. The investment will be funded through 30% equity and 70% debt.
The Government of Tamil Nadu gave a letter of facilitation to the Company in September, 2007 for setting up a Merchant Power Plant of 2000 MW capacity in Kilapidagai and Karapidagai North and South Village areas of Nagapattinam District. The Government also accorded approval for establishing a captive port at Vettaikaran Iruppu Village in Nagapattinam District, 3 km east of the above Thermal Power Plant site. The Government further sanctioned the port limits with a seafront of 3.2 km for establishing a deep water Port. This integrated project will occupy a sprawling 3000 acres wasteland and convert it into economically vibrant infrastructural industrial base.
According to Company sources, this Coastal Power Plant will largely depend on imported coal for its fuel. In order to ensure fuel security for the coal fed Thermal Power Station, the Company has taken steps to invest in coal mines in South and Central Kalimantan provinces in Indonesia, with adequate reserves.
The Power component: The Detailed Project Report for the Power Project was prepared by the globally reputed firm Fichtner Consulting Engineers (India) Pvt. Ltd. All relevant studies have been completed. Notice Inviting Tender (NIT) for Boiler-Turbine-Generator package including it’s auxiliaries through International Competitive Bid (ICB) was issued on 4th June 2009. The bids for BTG package have been received and are being evaluated.
The total Power Plant capacity will have to be necessarily reached in stages due to the constraints on equipment delivery by Manufacturers and is planned to be executed in phases. The first 2 phases will be sub-critical followed by super-critical technology based units. The Port and the First unit of the Power Plant will be commissioned in the last quarter of 2011 and the subsequent phases will start functioning every six months thereafter.
Power will be sold to discoms and HT users. The Company has already signed relevant MOUs for execution of PPAs with Organizations like Power Trading Corporation Ltd.,and other users.
The port componet: Tridem, engaged the reputed Oceanography Department of IIT, Madras, for preparing the Detailed Project Report for the Port, with optimal designs, which was completed in February, 2009.
The final design was also vetted by the Internationally Acclaimed Australian Port Consultancy Firm, SOROS. Under the guidance and supervision of IIT Madras, all the necessary Seabed Investigations, Shallow Seismic Surveys, Delineation of HTL, LTL and CRZ boundaries (by the National Institute of Oceanography in October, 2008), Mathematical Model Study for all weather Port, Geotechnical investigations, Rapid Marine Environmental Impact Assessment and Environmental Managerial Plan were completed in 2008.
The all weather deep water Port will initially have a capacity of 20 million tonnes per annum. To start with 40,000 DWT Coal vessels will call at the Port, fully equipped with mechanized coal handling systems with coal unloaders and conveyors in the Port area. The coal handling capacity will be 40,000 tonnes per day. On completion of the second phase, 1,00,000 DWT vessels will call at the Port.
Vendor discussions and contracts are at advanced levels after negotiations with Dredging and Breakwater Contractors, Berth Construction Agencies, Equipment Suppliers and Civil Contractors. The construction works are scheduled to begin in September, 2009.
The Company has achieved in-principle financial closure for Phase I of the project. The Port and Project sites enjoy excellent road and broad-gauge railway connectivity. The Company spokesman further said that “Tridem Port and Power Company on commissioning will offer unlimited employment potential to the locals and is bound to kickstart unparalleled infrastructural growth activities and will help unleash the immense potential for small and big industries in the vicinity”.