KSK sets up 540 MW project in Maharashtra

New Delhi, May 12 (UNI) KSK Energy Ventures (P) Ltd today announced the launch of a 540 MW power project at Warora in Maharashtra with a total investment of Rs 2,400 crore.

Set up through an special purpose vehicle (SPV)- Wardha Power Company Limited(WPCPL), the plant is expected to generate 3,500 million unit of power per annum.

For this purpose, KSK has entered into an arrangement with Gujarat Mineral Development Corporation (GMDC), which has been allocated a coal block in Chattisgarh under an intiative by Government of India. This entails GMDC the right to invest upto 26 per cent of the equity of the power project.

The project has the financial sanction of institutions like Rural Electrification Corporation Ltd(REC), HUDCO and Indian Overseas Bank.

The foundation stone for the plant was laid by the Chief Minister of Maharashtra Vilasrao Deshmukh.

UNI