Jindal group to set up 2,000 Mw power plant in Gujarat

Jindal group today announced setting up of 2,000 Mw power plant near Simar port, along the coastline of Gujarat with an proposed investment of Rs 10,000 crore.

"We are going to set up an 2,000 Mw power plant along the coastline of Gujarat, probably at Simar with an investment of Rs 10,000 crore," Assocham President Sajjan Jindal told reporters on the sidelines of Jain International Trade Organisation (JITO) conference here.

"Land has been identified, and the group has applied for various approvals for the power plant in Gujarat, and once that happens the work will commence," Jindal said.

"Once the work begins the power plant is expected to get commissioned within three years," he added. He ruled out signing of any further MoU's during the Vibrant Gujarat summit, this year.

"We signed MoU's with the state government last year, so no more further," he said.

Speaking about impact of Satyam scam on the Indian Information and Technology (IT) sector, Jindal said: "We can't say there wont be any impact, but its after effect will be short lived."

He also ruled out any paradigm shift in outsourcing of services from IT sector in India to Malaysia, as a fallout of the Satyam scam.

"No, India has its own strength, there have been number of failures in US in the past but that hasn't seen any shift in business," Jindal said.