Jindal Power to set up Rs11,880 crore mega power project in Jharkhand

Mumbai: Jindal Steel & Power has signed an a memorandum of understanding with the Jharkhand government for setting up a power project in the state at an estimated cost of Rs11,880 crore.

As per the MoU, Jindal Power would set up 2,640 MW (4X660MW) power project in the state at an investment of Rs11,680 crore, the company said in a filing with the Bombay Stock Exchange.

The state government would provide all necessary assistance, including the selection of coal blocks within the state and recommending allocation of coal blocks to the centre. It would also offer faster clearances at the state level.

The state government will also help in acquiring land for plant, permit drawl of water for project, connect project to PGCIL grid, construct necessary roads, obtain right of way and make available necessary power during construction phase, he MoU said.