It is reported that Lanco Infratech has submitted the financial bid for the 1,200 MW coal based power project at Rajpura in Patiala district of Punjab, which is likely to entail an investment of INR 6,500 crore.

Lanco, the only bidder for the project has quoted INR 3.38 per unit as a levelized tariff for 25 years. The excessive cost of land in Punjab has prevented a number of investors from setting foot in the state and bidding for the Rajpura power project as well. The state has identified 1,085 acre for the Rajpura plant which will be set up on BOO basis through Tariff based International Competitive Bidding process.

The bid evaluation committee constituted under the supervision of the Punjab State Electricity Regulatory Commission has opened the financial bid, which be now taken to the Punjab State Electricity Board for evaluation.