Shree Cement is reportedly foraying into commercial power business by
investing Rs 1,200 crore. The company is planning to set up a 300 MW thermal
power plant at Beawar in Rajasthan in the next couple of years.
The project is to be funded with a mix of internal accruals and debt, while
around Rs 800 crore is to be coming from the company's resources and the
remaining from lenders.
The power generated from the plant will be sold in open market and not be
utilised for captive purpose.
Shree Cement is likely to award the contract to develop the power plant soon
and is currently having the final round of discussions with four firms, one each
from the US and China and two domestic entities. The coal required for the
project will be fully imported.
Also See:
Shree
Cement plans to augment capacity (28-Jul-09)
Related Links:
Project profile