MUMBAI, OCT 9: The Chhattisgarh government along with the Chhattisgarh State Electricity Board (CSEB) signed an MoU with Bharat Aluminium Company Ltd (BALCO), subsidiary of Sterlite Industries (India) Limited, for setting up a 1200 mw coal-based power project.
This thermal project envisages an investment of Rs 5,000 crore. It is estimated to be completed in 40 months, once all the regulatory and statutory approvals are received.
A press release said Chhattisgarh would assist BALCO for single window clearances and approvals. The government will also recommend and pursue the Centre for allocation of captive coal blocks for the project and suitable coal linkage in the intervening period.
CSEB or the Chhattisgarh government nominated agency will purchase a portion of the power generated to meet the power requirements within the state, out of which 5% will be purchased at the variable cost (7.5% in case of generation using coal from captive coal block). Being a mega power project, the plant will also supply surplus power to other state distribution entities.
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