Abhijeet MADC Nagpur Energy Private Limited (AMNEPL

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Abhijeet MADC Nagpur Energy Private Limited (AMNEPL) for building and operating a 271 MW power plant complex consisting of 4 coal based thermal units of 61.5 MW each and 25 MW DG Set at the MIHAN SEZ area at Nagpur, Maharashtra state. MIHAN SEZ, also known as Multi-Model International Passenger and Cargo Hub Airport at Nagpur’ (MIHANTM), was a project that comprised of developing the existing domestic airport of Nagpur as an international passenger and cargo hub airport, along with a Multi Product Special Economic Zone (SEZ), which was abutting to the boundary of the airport. Abhijeet MADC Nagpur Energy Private Limited (AMNEPL) was a Special Purpose Vehicle promoted jointly by the Abhijeet Group (26%) and Maharashtra Airport Development Company (MADC) (74%). The project was awarded on a competitive tender. The project was awarded on 33 year Built Operate and Transfer (BOT). Power was to be sold to Maharashtra Airport Development Company (MADC) on priority for the development of Special Economic Zone (SEZ) and excess Power was to be sold to third party. The investment for the Project was estimated to be Rs. 13.82 billion (US$302 million). The project reached financial closure in March 2010. Financing comprised Rs11.06 billion 13-years term loan in debt and Rs2.760 billion in equity. The plant complex was scheduled to commence commercial operations in March 2011.