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Corporate Power’s (CPL) 1080 MW power project at Latehar in Chandwa in Jharkhand is progressing well and the entire project is expected to be complete within the scheduled time period of April 2014. The company belongs to Abhijeet group. The project is being implemented in two phases, comprising 540 MW (2 x 270 MW) power unit in each phase at an estimated cost of Rs 6000 crore and work on both the phases is underway. Further, the company is planning to set up 1X660 MW power plant in the third phase.

The company is developing the project as merchant power plant and has not tied up end users for the proposed electricity to be generated. Abhijeet group has been allocated a captive coal mine which is estimated to have reserves of 175 million tones. The company has already received approval from the government to mine 3.45 MTPA of coal which is enough to operate the first phase of the capacity (including the requirements of the Group’s proposed sponge iron plant). Though the company has received a letter of assurance from Central Coal Fields for 1.99MTPA of coal which will meet the requirements of the second phase of the project, the company has applied for enhancing the coal production from captive mine to 6.75 MTPA.

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