Germany-based Evonik Energy has signed a Rs 1,400-crore deal with Vedanta Resources for operating and maintaining their 2,400 MW plant in Orissa .
The agreement was recently signed, as per the terms of the agreement Sterlite would pay Rs 200 crore every year to Evonik for a period of seven years.
Sterlite Energy will soon commission the first unit of 600 MW by May, 2010 as the company plans to open up other three utilities for commercial use within one year.
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