Bajaj Hindusthan pull out of Bargad power project in UP

Bajaj Hindusthan has decided to pull out of the Rs 10,000 crore power project.

The company will quit the 1,980 MW Bargad power project planned in Chitrakoot district, following the recent exit of Jaypee Group from the Rs.7,000-crore, 1,320 MW Karchhana project.

The company had signed the memorandum of understanding with the Uttar Pradesh Power Corporation in December 2010, but not even 10 out of the required 13,000 acres have been acquired so far

Source: Financial Express and Money Control