Dhariwal Industries is foraying into
power sector by setting up a 1,000 MW (2x500 MW) power plant in Maharashtra in a
phased manner.
The company has already acquired over
500 acres in Chandrapur near Nagpur for the purpose. An investment of Rs.2,500
crore will be made in the first phase and a similar amount will be invested in
the second phase. The proposed project will be carried out as a joint venture
with the Kolkata-based Vision Industries, in which Dhariwal Industries will
hold 55 per cent.
Phase I of the project will go on
stream within 18 months once the raw material, coal blocks, are made available.