Tata Power managing director Adi Engineer declined to divulge further details in this regard on the ground of "confidentiality and legality." However, he added that these things would be clear within the next three months.

Mr Engineer said that Tata Power was considering a number of opportunities for mergers and acquisitions and added that four projects of around 500 mw each were under active consideration.

Mr Engineer said that Tata Power's equity portion in the Rs 5,600-crore Mangalore power project would be Rs 600 crore. With an alternative security package for escrow being worked out by financial institutions in consultation with the Karnataka government, "rapid progress on the project is anticipated with financial closure by March 2001," he added.

Of the 240 mw Jojobera project, the first unit of nearly 140 mw has already been synchronised recently while the another unit would go on stream in the next two weeks. The 80 mw project in Belgaum would be commissioned in coming December.

On Tata's joint venture with Total (France) known as Indiga for liquified natural gas (LNG) project, Mr Engineer said that the state-run Gas Authority of India Limited (Gail), which has expressed to be partner in this project, is yet to make its position clear. He hoped that the picture would be clear by January 2001 in this Rs 2,000 crore project in which Tata Power's equity at present is Rs 650 crore.

He said that his company awaits clearance from the Maharashtra government for the repowering of existing 500 mw Trombay unit in north-east Mumbai. He added that Tata Power's LNG regassification terminal which would be located at Trombay would complement Gail's existing offshore gas supplies and allow it to maintain its contracted deliveries to existing customers and target new consumers.

Tata Power would build the jetty for the Rs 1,600-crore LNG project in association with Mumbai Port Trust under BOOT scheme with an investment of Rs 300 crore. He added that the approvals for this have just been received from the Union ministry of surface transport. Mr Engineer said that Tata Power would also explore possibilities in setting up coal-based power projects in association with Tata Steel which is currently involved in mining in Bihar. However, he declined to five further details in this regard.

Apart from power, Tata has decided to diversify into energy and setting up communication infrastructure. So far, an investment of Rs 600 crore has been made including Rs 300 crore for laying a 400 km fibre-optic cable network connecting Mumbai and Pune. This network is likely to be become operational in 2001. He added that the company has already got 1,200 km of exclusive right of way (RoW) in Maharashtra.

Mr Engineer said that the Tata Power, with other Tata group companies, has also submitted expression of interest in Powergrid Corporation's tender in consortium in fibre-optic network project. The company is pursuing RoW opportunities with Railways, national/state highways and even state electricity boards, he added.

Mr Engineer said that he was aware of the state government's move to give additional powers under Section 22 (2) (n) of the Electricity Regulatory Commission Act to the Maharashtra Electricity Regulatory Commission to adjudicate disputes between Tata Power and BSES on payment of standby charges. However, he added that it needs to be seen whether MERC can go into old issues especially when the state government, through an order dated March 22 this year, had asked BSES to pay standby charges of Rs 182 crore to Tata Power.

Mr Engineer said that Tata Power was waiting for further development on the issue and would resort to legal action otherwise. He said that the Bombay high court had approved the merger of Tata Electric Companies into one company, to be known as Tata Power Company, formalities for which would be completed by mid-December.