Reliance Power picks 100% stake in Jharkhand Integrated Power Limited

Submitted by Narendra Jakhad on Fri, 08/07/2009 - 20:47

Reliance Power picks 100% stake in Jharkhand Integrated Power LimitedThe Anil Ambani-led Reliance Power Ltd has informed that the company has acquired 100% ownership of Jharkhand Integrated Power Ltd (JIPL) - the special purpose vehicle Company formed to implement Tilaiya UMPP - from Power Finance Corporation Ltd (PFC).

The pit head based coal fired power plant to be developed in the State of Jharkhand will have estimated outlay of Rs 20,000 crore.

It should be noted that this is the 3rd Ultra Mega Power Project secured by the Company in addition to UMPP's, which includes 4,000 MW pit head coal based Ultra Mega Power Project at Madhya Pradesh and 4,000 MW imported-coal based Ultra Mega Power Project at Andhra Pradesh. Both UMPP's are under implementation.

The scrip of Reliance Power closed today at Rs 161, down 3% compared to its previous close of Rs 166 on BSE.


Tagged with

Miscellaneous

Big steel and power companies may be stripped off their captive mines

Big steel and power companies may be stripped off their captive mines

Big steel and power companies like NTPC, ArcelorMittal, GVK Power, Jindal Steel & Power, GMR Energy and Damodar Valley Corporation may be stripped off the captive mines that were allotted to them.

As per the information available, as many as 97 companies are going to be given notice by the government asking them as to why they have failed in starting work in the captive mines provided to them.

Escorts up for a rebound?

Escorts up for a rebound?

After losing most of its market to players like Mahindra, perhaps the north India based tractor manufacturer, Escorts is up to make a rebound in the domestic circuit.

While the company has been cutting its operational and financial expenses, the fact of the matter is that it is also looking at expanding its market share in the domestic circuit. The third largest tractor manufacturer in the country has been relying on its tractor business for the overall Group, the company is targeting to take its market share up by 1% in the short run.

© Copyright 2010