News: Israel Electric in $10 bln India talks

(RTR 31/08/2006)) Jerusalem - State-run Israel Electric Corporation (IEC) said on Thursday it was in talks to construct and manage a power plant in India and a newspaper valued the project at an estimated $8 to $10 billion dollars.

Haaretz daily said on Thursday the power plant, to be located in Andhra Pradesh, in Krishnapatnam region of Nellore District, will be coal-fired and have a capacity of 3,500 megawatts.

It added that the plant will be built for the local electric company and that IEC will reap hundreds of millions of dollars in profit.

IEC told Reuters the project was still in the very early stages of discussion.