CCEA clears 1,000-MW AES project
PM News Bureau
The Cabinet Committee on Economic Affairs has cleared the
foreign investment proposal of AES OPGC Holding Mauritius for setting up a
coal-based power plant in Chhattisgarh. It may be recalled that in September
2006, the Foreign Investment Promotion Board had cleared the project, overruling
Orissa government's decision not to grant a no objection certificate to AES.
The 1,000 mw project is expected to cost $1.2 billion in which AES expects to
bring in $ 370 as foreign direct (equity) investment. The remaining $ 852
million will be raised through domestic and international debt.
[06 November 2006]