Steel-maker Prakash Industries will set up a 600 mw thermal power station in Chhattisgarh with an investment of about Rs 2,400 crore.
The company has entered into a memorandum of understanding with the state government in this regard.
As per the MoU, the company or its special purpose vehicle, formed for this purpose, could carry out the project, Prakash Industries said.
The project will be operational within four years and will be financed through a mix of equity and debt.
Prakash Industries would benefit from this project as the state government would facilitate in the allotment of captive coal block for the project and Prakash Industries would be entitled to distribute the power through Power Grid Corp, any other grid lines or its own dedicated lines.
Prakash Inds to set up Rs 2,400 crore plant
Press Trust Of India / Mumbai Feb 06, 2008, 04:56 IST
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