CCEA clears setting up of coal based power plant in Chattisgarh

New Delhi, Nov 2 (UNI) The Cabinet Committee on Economic Affairs (CCEA) today approved the setting up of a coal based power plant in Chattisgarh by AES OPGC Holding of Mauritius at an estimated cost of 1222 Million US Dollar.

Briefing newsmen after the meeting, Finance Minister P Chidambaram said the company will be a wholly owned subsidiary in India to undertake a green field coal based power generation plant and to undertake coal mining for captive consumption.

He said AES expects to bring 370 Million US Dollar as Foreign Direct Investment (FDI) and the balance 852 Million US Dollar shall be raised through loan from domestic and or international banks and financial institutions.

He said with the coming up of this project the total amount received under FDI in India will go upto Rs 1650 crore.

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