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GVK Power’s Goindwal project cost hikes at Rs 4,573 crore

On Friday, GVK Power said that the cost of its 540-MW Goindwal Sahib thermal power project in Tarn Taran district of Punjab has been estimated at Rs 4,573 crore now, which is higher than the earlier estimate of Rs 3,200 crore.

GVK Power in BSE filing said, “The project cost of GVK Power (Goindwal Sahib), a step-down subsidiary of our company, is estimated at Rs 4,573 crore up to November 1, 2015, after considering various factors”.

It said further that, “…the loan documents are purely bilateral between the lenders and the company. Therefore, it’s not appropriate on our part to reply… Hence, we cannot comment on such articles.”

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