Monnet Power to invest Rs 3,630 cr on capacity expansion

Monnet Power Company Ltd, the wholly owned subsidiary of Monnet Ispat & Energy Ltd (MIEL), plans to augment capacity of its 1,050 MW coal-fired power plant in Odisha to 1,710 MW at an additional investment of Rs 3,630 crore.

The company is through with land acquisition for the power plant to be set up at the Malibrahmani-Nisha-Chhendipada stretch in Angul district on 993.42 acres of land.

“Monnet Power’s capacity expansion plan has come before the task force on power. We are examining the proposal following which we will place it before the State Level Single Window Clearance Authority (SLSWCA),” said an official source.

Monnet Power’s 1,050 MW (2×525) station is set to be functional from July 2013.

Separately, MIEL has proposed to set up a structural fabrication unit at Chhendipada tehsil in Angul district at an estimated cost of Rs 65 crore. The SLSWCA has accorded in-principle approval for the project subject to fulfillment of certain conditions.

Requirement of land for the project is subject to assessment based on actual study. The project should not be located on mineral bearing area and command area of any irrigation project and this has to be ensured by Industrial Infrastructure Development Corporation of Odisha (Ipicol), the state government’s land acquisition agency. For assessment of water requirement, the company would submit a water storage management plan to the water resources department.

MIEL would obtain no objection certificate from the Odisha State Pollution Control Board before implementation of the project and also get environmental clearance from the Union ministry of environment & forests (MoEF).

The company would also give annual break-up of the physical and financial targets to be achieved within six months from the date of clearance. Besides, the company will strictly follow the guidelines on state employment norms and other policies as applicable from time to time.

Moreover, MIEL would operate the fabrication shop simultaneously with its coal-based independent power plant under implementation.

Source: Business Standard


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