Monnet Ispat signs MoU with Orissa Government

New Delhi, Sep 27 (UNI) Monnet Ispat Ltd today signed an agreement with Orissa government for development of 1,000 MW coal based power plant in Angul Distt in Orissa, at a total cost of Rs 4,200 crore.

The project is proposed to be implemented in two phases of 600MW and 400MW.

Phase 1 of 600MW is expected to be completed within a period of 3 years. The project is being implemented close to the coal mine owned by the company.

The project will be set-up by a separate company which will be a subsidiary of the company, a company statement said.

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