NEW DELHI: The fate of NTPC’s 520-MW Tapovan-Vishnugad hydel project hangs in balance as India’s largest power company is estimated to have suffered a loss of Rs 1,500 crore due to damage to the construction caused by Sunday’s flash flood in Uttarakhand.
The company, however, told the Bombay Stock Exchange on Monday that the “damage may not be considered material or significant” as per SEBI norms in the light of overall size of the company’s operations and its total capacity and “appropriate insurance cover” was available for the losses.
But power minister Raj Kumar Singh said that it was difficult to say when the project can be commissioned.The executives said about 70% of the work had been completed. This is the second setback for the Rs 13,500-crore project, which had suffered damage in the flash floods of June 2013.