To invest Rs. 8,000 crore
Indiabulls Realtech Ltd (IRL), a subsidiary of Indiabulls Power Ltd, is setting up a 1,350 mw coal-based thermal power plant at Sinnar, near Nashik. The company has set the deadline of January 2013 for the commissioning of the project.
Indiabulls Group is developing a multi-product Special Economic Zone (SEZ) on 2,500 acres at Sinnar, 30 kms from Nashik. Of which, 1,000 acres are to be used for the company’s proposed 1,350 MW thermal power plant. An investment for this proposed thermal power project is estimated at Rs. 8,000 crore.
“We have started work on our proposed 1,350 MW coal-based thermal power project, which will be spread over 1,000 acres. The project is expected to be operational by January 2013,” Kishore Gajbhiye of Indiabulls, who heads the project, said at a seminar, organized for local industrialists by Indiabulls, here.
“Of the total power generated, 950 mw will be given to Maharashtra State Electricity Distribution Company Ltd (MSEDCL), 50 mw will be losses and rest of the 350 mw will be sold to the government at Rs. 3.26 per unit,” he added.
Letter of Assurance for coal linkage has been issued by South Eastern Coalfields Ltd (SECL), Western Coalfields Ltd (WCL) and Mahanadi Coalfields Ltd (MCL). Environmental clearance has been accorded to the Project by MOEF (Ministry of Environment & Forest).