PN No. 38/(RE-99)/1997-2002 Dated 05-11-1999

Public Notice No. 38 (RE-99)/1997-2002 dt. the 5th November, 1999

In exercise of the powers conferred under paragraph 4.11 of the Export and Import Policy, 1997-2002, as notified in the Gazette of India Extraordinary, Part II, Section 3, Sub-Section (ii) vide S.O. No. 283(E) dated 31.3.1997, the Director General of Foreign Trade hereby makes the following amendments in Public Notice No. 18(RE- 99)/1997-2002 dated 1st July, 1999 as amended by Public Notice No. 25(RE-99)/ 1997- 2002 dated 28th July, 1999:-

(i) The words "Talcher-II, Talcher-II Transmission Projects and Sasaram HVDC East-North Interconnector project", appearing in the "Subject" of the said Public Notice shall be substituted by "Talcher Super Thermal Power Project Stage II (4x500 MW), Talcher-II Transmission Projects, Sasaram HVDC East-North Interconnector Project and Rihand-Sasaram-Biharsharif HVDC Link Back to Back Station project".

(ii) The words "Talcher-II, Talcher-II Transmission Projects and Sasaram HVDC East-North Interconnector project" appearing in the first line of the second paragraph of the said Public Notice shall be substituted by "Talcher Super Thermal Power Project Stage II (4x500 MW), Talcher-II Transmission Projects, Sasaram HVDC East-North Interconnector Project and Rihand-Sasaram-Biharsharif HVDC Link Back to Back Station Project".

(iii) Paragraph three of the said Public Notice shall be substituted to read as "In case the bids are invited under the World Bank Procedures and the World Bank loan fails to come through, for any reason, the deemed export benefits would be available as if the supplies have been effected under Paragraph 10.2(d) of the EXIM Policy. However, in these cases the Power Grid Corporation would return the cash equivalent of the deemed export benefits availed by the suppliers for the above stated projects except for Talcher Super Thermal Power Project Stage-II ( 4x500 MW). In case of Talcher Super Thermal Power Project Stage-II (4 x 500 MW), in the eventuality of World Bank funding not being available, since the suppliers would in any case be eligible for deemed export benefits as given in Paragraph 10.3 (c) and (d), under provisions of Paragraph 10.2 (g) of the EXIM Policy, subject however, to compliance of conditions laid down in Paragraph 10.11 of Handbook of Procedures, NTPC would have to return the cash equivalent of the additional deemed exports benefits availed by the suppliers for this project, as given in Paragraph 10.3(a) and (b) of EXIM Policy, 1997-2002."

2.This issues in public interest.

Sd/-
( N.L. Lakhanpal )
Director General of Foreign Trade

(Pl. refer PN No. 42/2002-07, Dt. 10/10/2002 for Deemed export benefits to Talcher Super Thermal Power project Stage II (4 X 500 MW), for Power Generation.)