Abhijeet eyes 5000MW plants by 2014
Nagpur-based infrastructure and industrial development conglomerate Abhijeet Group intends to have an operational capacity of over 5000 MW with its upcoming power plants by 2014.
The Group recently inked a USD 2.5 billion deal with China’s Dongfang Electrical Corporation to source equipments.
The contract for engineering and supply of BTG Island equipment for ten 660 MW units comes in line of the Group’s expansion plans into power production.
At the signing ceremony, company chairman Manoj Jayaswal recently said, “Abhijeet Group is in the process of setting up power generation facilities of more than 5000 MW in the states of Maharashtra, Jharkhand, Bihar, West Bengal and Andhra Pradesh and this deal is going to expedite our expansion plans and phase out our power production capacity.?
Jayaswal said the Group expects to have a total operational capacity of around 296 MW by the first quarter of 2011 and plans to commission the rest in a phased manner by 2014.
Work on projects to the tune of Rs. 14,000 crore including setting up of power plants with a total capacity of 2,733 MW is already underway.
The company is coming up with a 1080 MW at Chandwa in Jharkhand, a 1320MW super-critical power plant at Banka in Bihar and a 246 MW Multi-modal International Hub Airport at Nagpur.
Company officials said that the financial closure of these projects has already been done and 80 percent funds are being availed through debt.
