TPP of 1215 MW proposed at Yavatmal, Maharashtra

Darda & Abhijeet Group to set up power project

2007-04-26 13:46:52 Source : Moneycontrol.com

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The Darda Group and the Abhijeet Group of Nagpur have joined hands to set up a 1,215 MW “Jawaharlal Darda Mega Power Project” in the Yavatmal District of Maharashtra. This project would entail an investment of approximately Rs. 5,000 crore and generate indirect and direct employment for at least 2,000 people.

Earlier, the State Government had issued a Letter of Support to JLD Yavatmal Energy Limited for this project. The Letter of Support substitutes the MoU, which the Government used to sign earlier. IDFC has signed a MoU with the Company to pick up equity stake in the project. The coal-based thermal power project is expected to be operational by 2010.

A formal announcement was made by senior State Government officials at a press conference held in the presence of Maharashtra Chief Minister Shri Vilasrao Deshmukh, Shri Dilip Walse Patil (Energy Minister), Shri Vijay Darda (M.P. & Chairman, Lokmat Group & JLD Yavatmal Energy Limited), Shri Deepak Parekh (Chairman, IDFC), Shri Basant Lall Shaw (Group Chairman, Abhijeet Group), Shri Rajendra Darda (MLA & former State Minister), Shri D. K. Sankaran (Chief Secretary), Shri Rahul Asthana (Principal Secretary-Energy), Shri V. K. Jayarath (Principal Secretary-Industries), Shri Rajiv Lall (MD, IDFC), Shri Abhishek Jayaswal (Director, Abhijeet Group), Shri Devendra Darda (Director of JLD Yavatmal Energy Limited).

Shri Vijay Darda, M.P. & Chairman, Lokmat Group, said, “Yavatmal, apart from offering natural advantages for the project, also happens to be my freedom fighter father, late Jawaharlal Darda’s hometown. He dedicated his life for the development of this State. We conceived this project in the background of acute power shortage in the State and the farmers’ suicide in this district. If he would have been alive, he would have definitely done something to curb it. This project will be dedicated to his memory. We are planning to provide free power to the marginal farmers in the district for five years.”

Mr. Abhishek Jayaswal, Director-Abhijeet Group, added, “By partnering with the Lokmat Group and IDFC in this prestigious project, we have reinforced our commitment to achieve our goal to be in the forefront of the energy, power and infrastructure sector. This power project has the makings of addressing the socio-economic objectives of the Maharashtra Government. We are committed to bring the state-of-the-art technology and adopt the best suited financing options to supply power at competitive rates to the power starved State of Maharashtra.”

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