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CESC buys majority stake in Dhariwal Infrastructure

Saturday, 29 Aug 2009
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CESC, the Kolkata based company, has acquired over 50 per cent stake in Dhariwal Infrastructure Private Ltd (DIPL) for Rs 200 crore.

The company plans to acquire the residual stake in DIPL, now its subsidiary, in three months time.

DIPL is setting up a 600 MW thermal power station at Chandrapur in Maharashtra. It has secured 450 acre from Maharashtra Industrial Development Corporation for setting up the power plant. South Eastern Coalfields is expected to provide coal linkage for the power plant.

CESC plans to develop Chandrapur and another 600 MW project at Haldia in West Bengal as identical projects. While the total investment in Chandrapur project is estimated to be Rs 2,800 crore, the Haldia project is likely to cost Rs 2,400 crore.

CESC is yet to get the entire land required for the Haldia project. The company hopes to achieve financial closure for both the projects by December 2009.

Also See:

Land acquisition delays CESC's Haldia project (25-Jul-09) 

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