* * * Jharkhand News <http://jharkhand.org.in/>* ** **
** ** *Jindal group to invest Rs 20,000 cr to produce 5,000 MW power * The B C Jindal Group on Friday announced its foray into the power space with plans of investing over Rs 20,000 crore to produce 5,000 MW in the next five years. The group's Jindal India Thermal Power Ltd plans to implement three pithead, coal-based power projects totalling 4,300 MW in Orissa, Madhya Pradesh and Chhattisgarh. The firm also proposes to venture into hydel power production with plans to establish a 1,000 MW project in North India at a cost of Rs 6,000 crore. "We plan to set up 5,000 MW coal-based power plants with an investment of more than Rs 20,000 crore. We have signed MoUs with the state governments of Orissa and Chhattisgarh for establishing plants there, while an MoU with Madhya Pradesh government is s cheduled to be signed tomorrow," said the company Director Mr Puneet Gupta. The funding for the projects would be done in a debt equity ratio of 80:20. Jindal India Thermal Power has appointed SBI Capital Markets Ltd for syndication of loans for the projects. The company plans to set up a 2,000 MW power project in Madhya Pradesh. The plant, to come up near Sasan ultra mega power project being implemente d by Reliance Power in Sidhi district, will entail an investment of over Rs 8,000 crore. "The 1,200 MW plant in Orissa is in advanced stage of implementation. We have received the fuel linkage for producing close to 80-85 per cent of the planned capacity. Land acquisition is expected to be complete by April-end. Water commitments and other s tatutory clearances are also expected to come by mid-May,'' Mr Gupta said. - PTI thehindubusinessline.com/blnus/02151620.htm <http://ndtv.com/convergence/ndtv/story.aspx?id=NEWEN20080040929&ch=2/10/2008%206:31:49%20PM> ** ** ** ** ** <[EMAIL PROTECTED]> *Colorful Jharkhand Video @ http://jharkhandi.org * . -- Jharkhand News [EMAIL PROTECTED] Jharkhand Online Network www.jharkhand.org.in/news
