IIT Roorkee replaces E&Y as consultant for power projects

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Updated: 07/08/2008 | 12:14 AM IST

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IIT-Roorkee replaces E&Y as consultant for power projects

Raj Kumar Sahu

Thursday, August 07, 2008 (Mumbai)

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The controversy over Sasan Ultra Mega Power Project (UMPP) refuses to die down and as Lanco lost the race after almost clinching the project, it is now the turn of the official consultants for UMPP, Ernst & Young, whose dubious role in the Sasan UMPP was questioned by the power ministry.

Guess what IIT Roorkee has now been appointed as the consultants for the next three UMPPs in Jharkhand, Orrissa and Maharashtra.

NDTV Profit had reported in April that the government was unhappy with the role played by the consultants E&Y because it failed to point out the discrepancies that led to Lanco's bid being rejected and Reliance being appointed in its place.

Power Ministry sources have told NDTV that E&Y has now been blacklisted by Power Finance Corporation, which is the nodal agency for UMPPs.

The move is expected to send a strong message to consulting majors and also help PFC in speeding up the bidding process of the three UMPPs bringing the government closer to its target of power for all by 2012.