Mumbai-based Uttam Galva Steels is
planning to set up a 60 MW coal based power plant close to its steel plant at
Khopoli in Raigarh district of Maharashtra.
The power plant will entail an
investment of Rs.300 crore and will be funded through a mix of debt and equity,
in the ratio of 2:1. The company has sought coal linkages from the Coal Ministry
and the application is pending. Machinery for the project will be sourced from
India and abroad.
The project is expected to be
completed within 24 months from the date of commencement of work.