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Korean South-East Power inks pact with Jinbhuvish Group

Saturday, 18 Jan 2014
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Korean South-East Power Company (KOSEP), a subsidiary of Korean state-owned power generator, Korea Electric Power Corporation, has inked an initial agreement with Jinbhuvish Power Generations, for Maharashtra power project.


As per the agreement, Korean South-East Power Company will provide technical support to Jinbhuvish's 600 MW power plant in Yavatmal district of Maharashtra. The project, estimated to cost Rs 3,450 crore, is expected to be commissioned in 2016.


The coal-based power project in Yavatmal is being developed by the company in two phases. Each phase will have 300 MW capacity. Korean South-East Power holds 40 per cent equity stake in the project.


Lenders for the venture include Rural Electrification Corp, Power Finance Corp, and PTC India Financial Services.


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