Date:10/11/2006 URL: http://www.thehindubusinessline.com/2006/11/10/stories/2006111001611900.htm

Back Invest in captive power facility, SSIs urged

Our Bureau

Government ready to sanction facility immediately, provided the initial investment is raised.

Chennai , Nov. 9

Small-scale industries (SSIs) can pool funds and invest in a captive power facility, according to Mr Arcot N. Veerasamy, Tamil Nadu Minister for Electricity.

Speaking at a seminar on the `Role of SSI in creation of employment and growth of GDP' organised by the Tamil Nadu Small and Tiny Industries Association here on Thursday, he said a 10,000-MW power facility would involve an investment of Rs 4,000 crore.

Considering there are four lakh SSIs in Tamil Nadu, the initial investment of Rs 800 crore could be managed comfortably if all chip in, he said, while the remaining Rs 3,200 crore could be raised through loan.

He said the Government was ready to sanction the setting up of the facility immediately, whether it be a thermal or a wind energy plant, provided the initial investment was raised.