By IANS
New Delhi : The fate of the Sasan ultra mega power project in Madhya Pradesh continues to hang in balance as a meeting of the Empowered Group of Ministers (EGOM) headed by Power Minister Sushilkumar Shinde remained inconclusive Wednesday.
"The issue was placed before the EGOM. It will meet again. There is time till July 5 but the EGOM can decide on an extension," Shinde told reporters.
The meeting was held to decide whether Indian power company Lanco, which was awarded a 4,000 MW project last year, had violated bidding norms.
Dispute arose when Lanco's foreign partner Globeleq of Singapore sold its 70 percent stake in the joint venture to Lanco and Jindal Steel and Power Ltd after winning the bid.
The minister said the EGOM had been set up to eliminate delays due to technical and legal issues in the implementation of ultra mega power projects. The group of ministers would not examine the bids but would only intervene in cases involving complex issues, he said.