Date:07/06/2007 URL: http://www.thehindubusinessline.com/2007/06/07/stories/2007060703090300.htm

Back Ispat scales up power project

Our Bureau

Mumbai, June 6

Ispat Industries has doubled the size of its proposed power project in Chhattisgarh to 1,200 MW, through a new memorandum of understanding signed with the State Government, the company informed the stock exchanges. In January this year, the company had entered into an MoU with Chhattisgarh for a 600-MW coal-based power project at an investment of Rs 2,500 crore.

The State had altered the minimum size of a power plant for qualification as a mega power project, increasing it from 500 MW to 1,000 MW, said a spokesperson for Ispat Industries. Following this, it decided to scale up its proposed project which would now entail an investment of Rs 5,300 crore. The new MoU would supersede the earlier MoU. Qualification as a mega power project brings benefits such as coal linkages, captive coal blocks and the like.