The Centre has accorded mega project status to the state-owned 1,600 MW Krishnapatnam Thermal Power Project. This means there would be Rs 600-crore savings in the project cost. Delighted over the upgrade, the AP Generation Corporation has decided to expedite opening of price bid by June 3 to built the project. The first super-critical thermal project taken up in the public sector is expected to be ready by June 2012. The mega status will give a slew of incentives including customs and excise duty waivers on the imported equipment. "Equipment and machinery will comprise a major part in the project cost. With the mega status, there will be huge savings. This in turn will reduce the total cost and per unit rate of electricity," said Mr Ajay Jain, managing director, AP Genco. Krishnapatnam is also the site for the 4,000 MW ultra mega-power project that is being set up by Reliance Power Ltd. According to Mr Jain, acquisition of private and government land, except 10 acres of endowment land, has been completed. Relief and rehabilitation programme for 100 families has already started, he said.