Renewable energy co Jinbhuvish to set up coal-based thermal plant in Maharashtra.

The first phase of a 600 MW coal-based thermal power project is to take shape in Vidarbha's Yavatmal district in Maharashtra.

To be built on 800 acres, the project is set to generate employment for around 10,000 people. The Maharashtra Government has given its stamp of approval to the project, which has bagged foreign direct investment by a Korean company.

The Korea South East Power Company (Kosep), a subsidiary of the Korean Government owned Korea Electric Power Corporation, has taken a 40 per cent stake in Jinbhuvish Power Generation, a Jinbhuvish group company, for around Rs.1,500 crore.

Jinbhuvish Power Generation is setting up a 600 MW coal- based thermal power project in Yavatmal, at a cost of Rs.3,450 crore.

Manish Mehta, Chairman of the Jinbhuvish Group told Business Line, 'We have been in renewable energy for the past 12 years. We are now graduating to thermal power. Though Kosep are to take 40 per cent equity, we would continue to remain promoters.'


HBL