CESC, a subsidiary of the Kolkata-based RPG Group is likely to achieve financial closure for its 1,000 MW coal-based power plant at Neulapoi in Dhenkanal district of Orissa by the end-2010.

CESC has been facing problems in achieving financial closure for the Orissa project as it has not yet got the coal linkage. Currently, the application is under consideration. The power plant is likely to require 4.53 million tpa of coal.

The company had signed an MoU with the Orissa government on 26 November 2008, and the power project is scheduled to be operational by 2013. The project involves a total investment outlay of Rs.4,042 crore. It requires total land reserve of 1,200 acre and at present the land acquisition is under process. The notification for land acquisition under Section 4 (1) is expected to be issued shortly. The environmental impact assessment study will be completed by February 2009.

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