The Karnataka Power Corporation Limited (KPCL) has shelved its naphtha-based 200 MW Bidadi power project, proposed as a joint venture with US multinational Unocal, at Bidadi near Bangalore following the volatility of the naphtha prices. However, the KPCL ane Unocal are setting up an LNG-nased 700 MW power project with two generating units of 350 MW each at the same site at an estimated cost of Rs 2,100 crore.