Tag: Tangedco

Amid a raging political row, Tamil Nadu State’s power generating and distributing utility, TANGEDCO, has threatened to terminate the contract awarded in a coal-fired power project to Chennai-based BGR Energy Systems Ltd. (BGRESL), citing an inordinate delay in the commencement of the work for the project and breach of contractual obligations.The BJP party in the State had raised questions about the rationale behind the decision to award the EPC contract to loss-making BGRESL.BGRESL reported net losses of ₹479 crore, ₹178 crore, and ₹355 crore for FY23, FY22, and FY21, respectively. Its revenues stood at ₹806 crore,...