Railways to set up 1000 MW power plant in Bihar's Nabinagar

New Delhi, Aug 30 (UNI) The Railways will set up a 1000 MW captive power plant at Nabinagar in Bihar's Aurangabad district in collaboration with National Thermal Power Corporation (NTPC) Limited, the Lok Sabha was informed today.

In a written reply, Minister of State for Railways R Velu said a new Company, 'Bhartiya Rail Bijlee Company Limited', would be set up for the implementation of the project.

Mr Velu said the total estimated cost of the project, which would be given mega status, is Rs 5352.50 crore. The debt equity ratio of this project will be 70:30.

The equity participation of NTPC will be 74 per cent (Rs 118.26 crore) while the share of the Railways will be 26 per cent (Rs 417.5 crore).

Mr Velu said Nabinagar was found a suitable site for setting up of the power plant having an installed capacity of 1000 MW.

The minister also informed that the plan was included in the Railway Budget, 2007-08.

UNI