5,000 mw Targeted Over Five Years
Kolkata-based Jain Group of Industries is likely to sign a memorandum of
understanding with the Orissa government in July for a 1,000-mw power project in
the coal-rich state. It will be part of the group's ambition of achieving 5,000
mw of power capacity over the next five years, Mannoj Kumar Jain, Group Chairman
and Managing Director, Jain Group of Industries, told Projectmonitor.
The Orissa power plant will be the third coal-based mega project planned by the
group, following two 1,000-mw projects in Madhya Pradesh and Chhattisgarh for
which MoUs have already been signed. The MoU for the Madhya Pradesh project was
signed on June 9, while the Chhattisgarh project was formalised in February this
Jain Group has already begun land acquisition for the Chhattisgarh project.
Around 50 acres have been acquired so far and agreements have been reached for
another 300 acres. The Rs 5,000-crore project, being implemented by group
company Jain Energy Ltd, is shaping up at Balpur in Jangir-Champa district. JEL
has already made functional a site office in Champa and a project coordination
office in the capital city of Raipur.
For the Madhya Pradesh project, coming up in Shahdol district, land acquisition
is likely to begin over the next six months. Construction work on both the
projects is scheduled to begin in 2009, with completion targeted for 2012.
Regarding sourcing of the main plant equipment, JEL is eyeing international
suppliers. "We intend to source plant and machinery from China or Malaysia, or
even from the east European block," Jain noted. The group is also open to equity
partnership for the power projects, he said.
Discussing future plans, Jain said that West Bengal and Jharkhand were also on
the company's radar to further expand the power portfolio. The company has also
expressed interest in developing hydropower projects in Arunachal Pradesh.
Biomass Power Projects in MP
Jain Group expects to commission its biomass power projects
in Madhya Pradesh over the next 18-20 months. A 10-mw project is coming up in
Dewas district while another 15-mw plant is taking shape in Sihore district. The
detailed project reports for both plants are ready. Land acquisition is
currently in progress and financial institutions are being approached for term
loans. Statutory clearances and enrolment with local bodies for agro-waste is in
advanced stage. Jain Group's biomass projects are amongst Madhya Pradesh's early
initiatives to set up biomass-based power projects. The centrally-located state
currently has a negligible presence in India's biomass power map.