Jain Group of Industries a fast growing business conglomerate, plans to foray into Indian Power Sector by setting up 1000MW power project in the state of Chattisgarh. The project would be developed by one of the Group Companies JAIN ENERGY LTD. Jain Energy Ltd, has signed a Memorandum Of Understanding (MOU) with the Government of Chattisgarh today for developing a Power plant in the state. Jain Energy plans to set up a 1000 MW coal based power unit at Balpur of Janjgir – Champa district. The plant will be spread over 1,000 acres of land. The estimated investment in this project would be Rs.5000 Crore and the project is scheduled for commissioning in 2011.
Speaking on the occasion, Mr. Manoj Kumar Jain, Group Chairman and Managing Director – Jain Group of Industries said “There is a huge business opportunity and we want to actively participate in the growth of the Power sector. We have set a target of setting up 5,000 MW power plants allover India in next 5 years.” In addition to Chattisgarh, the company is also in talks with Orissa, Jharkhand, Madhya Pradesh and West Bengal for similar kind of Power Projects. Apart from Thermal project, the group is also looking at venues in Hydro and Biomass sectors. Jain Energy Limited has given Expression of Interest for Hydro Power Projects in Arunachal Pradesh & Bhutan. In the Biomass sector it is already in the process of setting up 2(1 x 15MW & 1 x 10 MW) Eco-friendly Biomass based Power Plants, a decentralized generation of renewable energy power, at Dewas & Sehore district in Madhya Pradesh using mainly agro residues like cotton stalks, soya bean stalks, wheat straw.
Speaking on the occasion, Mr. Manoj Kumar Jain, Group Chairman and Managing Director – Jain Group of Industries said “There is a huge business opportunity and we want to actively participate in the growth of the Power sector. We have set a target of setting up 5,000 MW power plants allover India in next 5 years.” In addition to Chattisgarh, the company is also in talks with Orissa, Jharkhand, Madhya Pradesh and West Bengal for similar kind of Power Projects. Apart from Thermal project, the group is also looking at venues in Hydro and Biomass sectors. Jain Energy Limited has given Expression of Interest for Hydro Power Projects in Arunachal Pradesh & Bhutan. In the Biomass sector it is already in the process of setting up 2(1 x 15MW & 1 x 10 MW) Eco-friendly Biomass based Power Plants, a decentralized generation of renewable energy power, at Dewas & Sehore district in Madhya Pradesh using mainly agro residues like cotton stalks, soya bean stalks, wheat straw.
Source: Moneycontrol.com
4th February, 2008