Jindal Poly Films (JPFL) plans to go for private equity investment in its subsidiary Jindal India Thermal Power. The BC Jindal-group promoted company may also go in for listing Jindal India Thermal once the company’s Rs 9,121-crore power plant in Orissa becomes operational.
Jindal India Thermal’s 1800 Mw plant will have three units of which the first will be commissioned in March 2012, the second in September 2012 and the third in September 2013. The company is looking at 10-15 per cent dilution in the company. Jindal India Thermal has signed a second power purchase agreement with Tata Power Trading Company for sale of 400 Mw power from the plant on merchant basis for 12 years. It has also signed PPA with the Orissa government-owned utility Gridco for supply of another 250 Mw from the power plant in Angul district of Orissa.
While JPFL is investing Rs 153 crore in subsidiaries and affiliates this year, it is investing additional Rs 456 crore in the pit-head power project. It has already invested Rs 108 crore with the remaining investment likely to be made over the next two years. The project would run partly on captive coal mine and partly on linkage coal. The company is developing its captive mine in Orissa through Mandakani Coal Company, a joint venture with Tata Power and Monnet Ispat.
Company Name | CMP |
---|---|
Supreme Industries | 4847.45 |
Astral | 1734.50 |
Finolex Inds | 238.75 |
EPL | 265.15 |
Jain Irrigation Sys | 68.97 |
View more.. |