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Videocon plan to power ahead

New Delhi, Dec. 26: Videocon Industries will invest Rs 25,000 crore to set up three power plants in Bengal, Gujarat and Chhattisgarh.

The company plans to initially generate 5,000MW and increase it to 210,907MW by 2012.

“We will increase our investments in power projects as we get more coal linkages and land. India needs electricity and there’s very good scope in power,” said Videocon chairman Venugopal Dhoot.

The country faces a 13 per cent shortage during peak hours.

The company today invited bids from global engineering companies for its two units at Pipavav in Gujarat. Each of the units has 800MW capacity. The $1.5-billion power plant will use coal from Indonesia, where the company owns a stake in a coal mine.

The Bengal government has also promised Videocon access to the state’s coal mines.

Sources said the project was expected to cost around Rs 8,000 crore. The expenditure depends on factors such as the availability of fuel.

Contractors for the project, to be implemented on a single turnkey basis, will be selected through international competitive bidding. The last date for submission of bids is June 9, 2008.

The company has also acquired land for a power project in Chhattisgarh.

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