Date:07/11/2009 URL: http://www.thehindubusinessline.com/2009/11/07/stories/2009110750610300.htm

Back Pagaria Power to set up plant in Konkan

Mr Rajesh Pagaria

Our Bureau

Mumbai, Nov. 6 Pagaria Power plans to set up a 1,000-MW coastal plant in Konkan, Maharashtra. Once the exercise of government formation is through in the State, the company plans to fast-track the approval process.

Pagaria Power is part of the R S Pagaria group with business interests in coal logistics. Mr Rajesh Pagaria, Managing Director, told reporters on Friday said that the company would look at mines in Indonesia, Vietnam and Mozambique for sourcing the coal. He did not divulge financial details of the project.

Pagaria has already signed a memorandum of understanding with the Madhya Pradesh government for setting up a 540-MW thermal plant costing Rs 3,500 crore in Sahdol district. While Rs 700 crore is the equity component, the balance debt will be raised from the market and banks.

The power plant wil be integrated with a cement unit and coal washery.