June 23, 2017 / 10:29 AM / a month ago

BRIEF-Tata Power says no decision has been taken regarding Mundra UMPP

1 Min Read

June 23 (Reuters) - Tata Power Company Ltd:

* Clarifies on news item "Tata Power proposes to sell 51 pct equity in loss-making Mundra UMPP at Re 1"

* Says Coastal Gujarat Power Ltd approached CERC, Aptel, Supreme Court to find resolution to under recovery of fuel costs

* Following Supreme Court's decision, co has again approached procuring states to arrive at an alternate solution

* Says co suggested few options, one amongst which is possible acquisition of majority stake by procurers to facilitate relief

* Says no decision has been taken or arrived at regarding Mundra UMPP

* Government facilitated meeting of all such affected projects and the matter is still under discussion

* Says no material impact at this stage since no decision has been taken Source text for Eikon: Further company coverage:

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