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Jindals sign power MoU

Ranchi, June 3: A Naveen Jindal flagship company, Jindal Power Limited (JPL), signed an MoU with the state government today for setting up a coal-based power plant of 2,640MW (4x660MW) capacity.

The MoU was signed between JPL director Sushil Maroo and state energy secretary Aditya Swaroop here.

A senior company official told The Telegraph the final site of the project would depend on the availability of coal blocks and water.

JPL, a subsidiary of Jindal Steel and Power Limited, had commissioned 500MW (2 units x 250 MW) of 1,000MW project in the year 2007-08. The third and fourth units of 250MW each were likely to be commissioned in June and July 2008 respectively, according to a news communiqué issued by the company.

Sources said that JPL had already started selling power to consumers across India and had shown a marginal turnover of Rs 125.86 crore and profit after tax of Rs 19.43 crore in the year ended March 31.

JSPL had already made inroads into the state by acquiring ailing Bihar Alloys and Steel Limited near Patratu and had started production.

The company had also zeroed in on the Asanboni area of East Singbhum for a proposed steel plant of 10MT capacity. It was also in process of setting up two power plants in the Dumka and Godda areas of Santhal Pargana where the company had been allotted coal blocks. However, today’s MoU was one of over 24 agreements in the power sector signed between the government and proposed investors.

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