Tata Power gets LoI for distribution franchise in Jamshedpur
New Delhi: Tata Power on Friday said it has been awarded the Letter of Intent for electricity distribution franchise in Jamshedpur by the Jharkhand State Electricity Board.
The country's largest private power producer would have the distribution franchise for Jamshedpur for 15 years.
In a statement, Tata Power said it would be responsible for operating and maintaining the distribution network in the Jamshedpur circle, which includes Jamshedpur, Tata Steel city, Adityapur and Ghatsila divisions.
"Tata Power will also be managing the billing and collections," it added.
The power producer, which has an installed generation capacity of 6,899 MW, is already into electricity distribution in Mumbai and Delhi.
"We are delighted to be awarded the distribution franchise of Jamshedpur circle in Jharkhand as it holds a special place in the Tata group's history," Tata Power Executive Director S Padmanabhan said.
The entity has customer of more than 3.5 lakh people in Mumbai.
Tata group has been in Jamshedpur and Jharkhand for over a century through various Tata group companies led by Tata Steel.
"... With the successful turnaround of Delhi distribution business coupled with our successful Mumbai distribution business, we now look forward to working with employees at Jamshedpur circle to earn a respectable position in the market place," Padmanabhan said.