CEPL plans 2,000-MW thermal power project

Chennai: Coastal Energen Private Ltd (CEPL) intends to put up a 2,000-MW thermal power project near Tuticorin at an investment of Rs 8,500 crore, the company’s President and CEO, Mr Ahmed Buhari, said.

Coastal Energen is part of the Rs 2,000-crore integrated energy company Coal & Oil Group (C&O). Thirty per cent of the project cost will come from equity, he said.

Dubai-based Abdul Wahid Al Rostamani group will take about a third of the equity. A consortium of banks, led by SBI, has agreed to chip in with the debt, Mr Buhari said.

The company has acquired about 1,000 acres of land and construction will commence in June.