Date:09/12/2004 URL: http://www.thehindubusinessline.com/2004/12/09/stories/2004120901740200.htm

Back Jindal Stainless plans captive thermal unit in Orissa

Our Bureau

Mumbai , Dec. 8

JINDAL Stainless Ltd proposes to set up a captive thermal power plant to meet its future requirements in Orissa.

The power plant will have two modules of 125 MW each - total of 250 MW.

The expected date for completion of the first module would be 24 months. The total project cost is estimated to be around Rs 850 crore.

The major order has been placed with BHEL and an advance of Rs 26 crore has also been paid.

The entire project is expected to be financed on a debt equity ratio of 1.5:1.

"The company expects to achieve substantial savings from this captive power project as it is based on coal, as the ferro alloys project being set up is highly power intensive," a company official said.