Beta Infratech Private Limited

under implementation

Economic/Social Impact of the Project Beta Infratech Pvt. Ltd. [“Beta”] is implementing a 225 MW combined cycle gas-based power project in Uttarakhand. The project was funded by equity from the promoters and debt from Punjab National Bank [PNB] led consortium of 5 banks [other banks being Bank of India, Oriental Bank of Commerce [now merged with PNB], State Bank of Patiala [now merged with SBI], and Vijaya Bank [now merged with Bank of Baroda]. Project was envisaged to be commissioned by March 2012, so as to be eligible for allocation of domestic gas as per prevalent policy of Govt. of India. Agreement was signed with GAIL [a Govt. of India PSU] for supply and transportation of Gas. However, gas could not be made available to the plant by GAIL due to steep fall in production of domestic gas. The lack of visibility of gas supply and non-availability of last mile funds from consortium of banks delayed project commissioning.