JSL signs agreement for 1320mw plant in Orissa

Ratan Jindal led JSL (formerly known as Jindal Stainless) on Thursday signed an MoU with the Orissa government to set up an independent power project (IPP) of 1320 mw with an investment of Rs 7,375 crore at Luni in Orissa's Dhenkanal district. JSL resident director(Orissa project) Rajdeep Mohanty and the state energy secretary, Pradeep Kumar Jena, signed the MoU documents in the presence of chief minister, Naveen Patnaik, energy minister, Atanu Sabyasachi Nayak, chief secretary, TK Mishra, development commissioner, RN Senapati, and JSL vice chairman & managing director, Ratan Jindal. Jindal said JSL has asked the state government to provide 2000 acres of land and water linkage from the Mahanadi river system for the proposed super critical (2 x660 MW) power project. He said IPP would make available about 158 to 185 MW of power at variable cost to Orissa besides giving employment opportunity to about 2600 people directly and indirectly. JSL, which is currently generating 4,000 mw of power, will become one of the country's largest private power producers with a total capacity of 12,000 mw by 2012-13. He said that with the signing of the MoU with JSL, the total number of MoU IPP companies in Orissa has become 27. The 27 IPPs are proposing to built a total capacity of 32,420 mw. The state would get about 5665 mw as its share towards compensation for management of environment and periphery development. The state energy minister said that the IPPs in Orissa would generate about 2400 mw of power by the end of 2010. The total power generation by the IPPs would be about 6450 mw by the end of 2012 and the state would get about 1600 mw of power towards its share from these plants, he added.

Source : JSL signs agreement for 1320mw plant in Orissa