Udupi: Adani Group to take over UPCL in Rs 6,000 crore deal


Daijiworld Media Network – Udupi (SP)

Udupi, Aug 14: If sources are to be believed, Udupi Power Corporation Ltd (UPCL), the power plants of which with a capacity of 1,200 mw operate at Yellur, Nandikoor near Padubidri in the district, will soon be acquired by Adani Group. Adani, which has considerable presence in power generation sector, is believed to have finalized a deal with Lanco Infratech Group from Andhra Pradesh which owns UPCL, for a whopping purchase consideration of Rs 6,000 crore. Adani Group already generates 8,580 mw of power.

It is said that Adani Group, trying to become a major player in power production sector, had earlier tried to acquire three hydro electric projects of Jeypee Group, but Reliance sealed the deal and acquired them about three weeks ago.

During last month, there were rumours that Jindal Group, which is a leading steel and aluminum manufacturing company with diversification in other fields, had shown interest in acquiring UPCL. It is learnt that even the top officials in UPCL working in its administrative office at Bangalore and those working at Yellur, were kept in the dark about the ongoing negotiations. The deal was clinched at New Delhi, sources added.

Out of the power generated by UPCL, which entirely depends on imported coal for thermal power generation, 90 percent is utilized by Karnataka, while the rest goes to Punjab, it is gathered. The above deal includes a liability of Rs 4,000 crore Lanco had raised. Adani will take over this loan, and pay the balance of Rs 2,000 crore to Lanco Infratech, it is learnt. UPCL already has entered into an agreement with Karnataka government to raise its generation capacity to 1,320 mw as it has provision to increase its coal import through the jetties it owns at New Mangalore Port.

  

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Comment on this article

  • Shaan, Dubai

    Sat, Aug 16 2014

    Adani has absolutely no concerns for environment. They looted Bellary iron ore from bellikere by constructing illegal jetties. Beware Adani group interests in karnataka is really dangerous.

    DisAgree [2] Agree [2] Reply Report Abuse

  • Suleman Beary, Udupi

    Sat, Aug 16 2014

    Who will compensate the surrounding area tenants suffering from fly ash?...I was expecting this fly ash from the day the thermal power plant news. It is a experience during one day Raichur thermal power pland industrial tour 20 years ago.

    DisAgree [3] Agree [2] Reply Report Abuse

  • BALAKRISHNA, MOODBIDRI

    Fri, Aug 15 2014

    POSSIBILITY NIDDODI POWER ALSO ADANI CAN TAKE... ACHE DIN ANE WALE HAI...JAGRATHE..NAMMA OORU LOOTUVER.....

    DisAgree [3] Agree [8] Reply Report Abuse

  • Meena, Bangalore/Mangalore

    Thu, Aug 14 2014

    The paper says, the plant which produced power was used in Karnataka and surplus sold to other state. If there was surplus, why Mangalore always had power cuts, school children always had trouble mostly during their exam. pls explain.

    DisAgree [3] Agree [11] Reply Report Abuse

  • Jayaprakash, Mangalore/Dubai

    Thu, Aug 14 2014

    Atleast ache din for Ambani and Adnani :)

    DisAgree [5] Agree [18] Reply Report Abuse

  • Praveen Bangera, Kaup/Dubai

    Thu, Aug 14 2014

    I dont understand why people are blaming PM or BJP for this deal. Its clearly written in the article that the Project is owned by Infatech Group from Andhra and Adani group has bought it from them. Government of india is nothing to do with this deal. Still pseudo siculars try to put PM's name in the deal. Shame on you guys. Please grow up. If Tata group or any other group (other than Gujarati owned) brought this project, then there wouldnt have a uproar from these readers.

    DisAgree [25] Agree [18] Reply Report Abuse

  • Jolly Deepak Veigas, Mangalore

    Thu, Aug 14 2014

    Question:- Achche din aa Gaye hein..... Kiske...???? Answer:- FEKU ke.

    DisAgree [17] Agree [34] Reply Report Abuse

  • Hary, Kudla/Dubai

    Thu, Aug 14 2014

    The Plant was for sale, some one had to buy, ADANI closed the deal, I think it is normal.
    But then......is there any false play? We do not know, so we cannot comment.

    I hope some one buys Indian Railways. and makes it world Class.

    Mukesh Bhai!!! Thame Interested Che?? Modi Bhai Hai ne, ....

    DisAgree [5] Agree [32] Reply Report Abuse

  • KA D'Silva, Dubai

    Thu, Aug 14 2014

    off-course Mukesh bhais are very much interested, thats why our great Rail Minister had guts to increase the fare, he will further increase then then hand it over to Ambani and Adani bhais !
    wait and watch !! and this is called as Guts in Demo-crazy !

    DisAgree [7] Agree [20] Reply Report Abuse

  • Dr S Kamath, Mumbai

    Thu, Aug 14 2014

    Hope Adani will implement all measures to curb the Fly ash menace

    DisAgree [11] Agree [19] Reply Report Abuse

  • D.P.SHETTY, Bahrain

    Thu, Aug 14 2014

    There is nothing wrong if someone buying loss making unit & making it into profitable, hope our people, state & country will benefit.

    DisAgree [15] Agree [12] Reply Report Abuse

  • KA D'Silva, Dubai

    Thu, Aug 14 2014

    Dear people of Undvided drist of DK,
    Don't be surprised one day our Mallya mam too sell his MCF to some builders to cash on the market !

    This is exactly Govt fooling people from back door. First Govt acquire the poor farmers land at cheap rate for specific project, then few year late sell it to Business Tycoon to through away price and then Business Tycoon make a lots of money !! at who's cost ? people's cost ! this is called as Demo-Crazy.!

    DisAgree [4] Agree [26] Reply Report Abuse

  • Richard, Shirva/Sharjah

    Thu, Aug 14 2014

    @ Ronald D, Udupi ...Adani will take care to his belief to prosper!
    most people know 'ours(land) is Parashurama shrasthi'..so

    DisAgree [10] Agree [6] Reply Report Abuse

  • ek, bejai

    Thu, Aug 14 2014

    achaa din aaya hai....adani ka

    DisAgree [4] Agree [26] Reply Report Abuse

  • jamil ahmed, udupi/qatar

    Thu, Aug 14 2014

    Let us lookk positive aspect of this to overcome shortfall in power supply (avoid 20 hrs load shedding)

    DisAgree [2] Agree [7] Reply Report Abuse

  • S.M. Nawaz Kukkikatte, Dubai

    Thu, Aug 14 2014


    Who is Middle Man MP Nalin Kumar or Shobakka

    DisAgree [12] Agree [45] Reply Report Abuse

  • Hary, Kudla/Dubai

    Thu, Aug 14 2014

    How does it matter? There could be a middle man for this deal and he/she must have taken commission. Even if we sell a FLAT agent takes 2% commission.

    OOPS!!! you mean He/She got whopping 120Crores?

    DisAgree [3] Agree [15] Reply Report Abuse

  • N.M, Mangalore

    Thu, Aug 14 2014

    crony capitalism at its best....its obvious that feku is just a 'Katputli' in the hands of hambunnies and hadannis.

    In short - This is a thank you to Adani from mody for all the help received during elections.

    India will be sold off in another 5 years - courtesy bJpeee.

    DisAgree [7] Agree [25] Reply Report Abuse

  • Dev, Mangalore

    Thu, Aug 14 2014

    Adani will get NOC from Center to EXPAND & ruin ecology forever.
    Acche Din Adani ke,
    Bure Din Sab pas Gavonke.
    Solar & Wind & biogas can stop this rape of mother earth.
    Europe is scrapping Thermal Power Plants while we are not following China which has now stopped the expansion of thermal power & has now focused more on Nature for its Power Needs.

    DisAgree [6] Agree [29] Reply Report Abuse

  • Indian, Mangalore

    Thu, Aug 14 2014

    Wait and see full India will go under Ambani and Adani under BJP rule.

    DisAgree [11] Agree [67] Reply Report Abuse

  • malcolm, mangaglore

    Thu, Aug 14 2014


    Because they are only funded for election campaign to Mr. Modi.

    kuch panekeliye kuch dena padta hai na...

    DisAgree [10] Agree [51] Reply Report Abuse

  • Naiem , Uchila

    Thu, Aug 14 2014

    A small thank you from Fekku for letting him use Adani Planes /Helicopters ..... ....Abhi aage aage dekhiye hota hain kya .......Jai ho Fekku Maharaj ki ( Adani is telling not me ) ...hehehehe

    DisAgree [13] Agree [53] Reply Report Abuse

  • Praveen Bangera, Kaup/Dubai

    Thu, Aug 14 2014

    Jalne ki boo aarahi hain Naaeim....

    DisAgree [3] Agree [2] Reply Report Abuse

  • KRPrabhu, Bangalore

    Thu, Aug 14 2014

    Naiem,Uchila People from Uchila,Paniyoor,Yellur,Mudarangadi are dying o get a job in UPCL where as most of the jobs were cornered by outsiders.....and shameless people at Uchil re sitting making hee.heee.hee....making mokery of your own foolishness.....

    DisAgree [5] Agree [8] Reply Report Abuse

  • Naiem , Uchila

    Fri, Aug 15 2014

    Mr.Minority Basher .....Itna mirchi kyon laga bhai aapko ....I didnt talk about jobs or disadvantages of it by Adani taking over !

    I am just wondering from where did they geenrate 6000crores ? which bank is guranteeing this transaction ?? How come a small player called Adani is all in the news just because they supported Fekku maharaj ??

    And whats this if anybody say anything against modi you come out all guns blazing making personal comments ? I hope you have not printed Modi's name in your chest now !!

    DisAgree [5] Agree [7] Reply Report Abuse

  • prakash, bhatkal

    Thu, Aug 14 2014

    It's time to pay back for their election funds.

    DisAgree [18] Agree [50] Reply Report Abuse

  • jeevan, mangalore

    Thu, Aug 14 2014

    Unemployed youth are real beneficiary.....

    DisAgree [57] Agree [20] Reply Report Abuse

  • Jacintha, middle east

    Thu, Aug 14 2014

    that is called looking at the positive side of things.
    The BD, Sene, Moral Police - all these evils will be under control, they will be busy generating revenue for Adani.

    It is OK if they are part of the team RAPING mother nature :)

    But we wanted development right, that is why we voted the present admin to power.

    let us not generally complain, for one to happen, the other ought to go. We are not naive to not understand this.

    DisAgree [12] Agree [18] Reply Report Abuse

  • Ronald D, Udupi

    Thu, Aug 14 2014

    Janardahana Acharya, Electricity and light first! Temple, church and snakes next. Religion, business and politics should not be liked!! I do agree fertile cultivating land should be spared as much as possible.

    DisAgree [5] Agree [27] Reply Report Abuse

  • jamil ahmed, udupi/qatar

    Thu, Aug 14 2014

    We are having acute shortage of power and additionally we need to further improve transmission system. I hope it’s a good move to privatize the system where productivity improves.

    DisAgree [7] Agree [17] Reply Report Abuse

  • yogesh, bombay

    Thu, Aug 14 2014

    Who got how much of this 6000 cr deal is anybody's guess

    DisAgree [11] Agree [24] Reply Report Abuse

  • George A. Borromeo, Angelore, Mangalore, India

    Thu, Aug 14 2014

    Jossie Bab very soon you are going to beat Bejan Daruwala, the great Astrologer!!

    DisAgree [4] Agree [20] Reply Report Abuse

  • VIJAY LEWIS, SHIRVA/MUMBAI

    Thu, Aug 14 2014

    Adani ka ache din ane wale hain....

    DisAgree [7] Agree [46] Reply Report Abuse

  • JANARDHANA ACHARYA, BANGALORE/UDIPI

    Thu, Aug 14 2014

    Its my private ryan. I am the native of this place may be less than 100 Meters of the plant location. One advice to Mr. Adani, I had worked with them for some Marine Projects, Dont touch any temples over there, pls donate money to them. Do not touch green paddy fields. Theree are lots of government hilly areas which are dry and use them for expansion. Please ensure that snake, the serpent God is taken care with due respect. Believe Hanuman and Serpent. An Highly spiritual environment with known history since 1200 AC. Develop and make it a heaven on earth.

    DisAgree [45] Agree [13] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Thu, Aug 14 2014

    3 months back I had predicted India is pledged to Ambani and Adani ...

    DisAgree [23] Agree [81] Reply Report Abuse

  • George A. Borromeo, Angelore, Mangalore, India

    Thu, Aug 14 2014

    Jossie Bab very soon you are going to beat Bejan Daruwala, the great Astrologer!!

    DisAgree [11] Agree [46] Reply Report Abuse

  • Nagendra, Mangalore

    Thu, Aug 14 2014

    Chill out Jossey. Don't be paranoid. If you have the money go for it!

    DisAgree [17] Agree [34] Reply Report Abuse

  • jeeendra hegde, mumbai

    Thu, Aug 14 2014

    Afterall which goverment started this loss making project? our favourite congress goverment.due to this plant surrounding farmers sufferred a lot...people shouldn't allow such plant near moodbidri at alll.Instead of keeping shut, let private party run the show.

    DisAgree [22] Agree [8] Reply Report Abuse

  • KA D'Silva, Dubai

    Thu, Aug 14 2014

    Jossy bab, thats why I have suggested every one to purchase shares of Adani and Ambani !

    DisAgree [5] Agree [26] Reply Report Abuse


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Title: Udupi: Adani Group to take over UPCL in Rs 6,000 crore deal



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