Advertise Here [728 W x 90 H pixels]
Construction : Press Release | March 2015 | Source : Construction Update

Essar Power MP Ltd. Completes Acquisition of Tokisud North Coal Block

  • Tokisud North block to re-energise Mahan Power Plant
  • Coal Production to begin in a few months
  • Mahan to generate 1,200 MW power
Mumbai, March 24th, 2015: Essar Power MP Limited, a subsidiary of Essar Power, one of India’s leading private sector power producer, today said that it has signed the Coal Mine Development and Production Agreement with the Government of India for the Tokisud North coal block in Jharkhand and has also completed all other formalities. Ministry of Coal has issued the ‘Vesting Order’ to Essar Power MP Ltd. on March 23rd, 2015, the formal allotment letter of Tokisud North Coal Mine.

Essar Power MP Limited owns and operates the 1,200 MW coal based power plant at Mahan in Madhya Pradesh which has been set up with an investment of Rs. 8,000 crores. With this coal mine acquisition, the company will commence mining operations to power the Mahan Power Plant within a few months.

The coal block would provide a big boost to re-energise the Mahan Power Plant, which was idling due to lack of coal for the last 18 months. With Tokisud North coming on stream, 1,200 MW of power from the plant would soon be available to the country. The company is in the process to sign long term Power Purchase Agreements (PPAs). Essar Power MP Limited won the bid for the Tokisud North block for its Mahan Power Project in the bidding process. The block, which has all necessary clearances to begin mining, has extractable coal reserves of 52 MT. Vital infrastructure like connectivity to the nearest railway sliding, merely 6 kms away, already exists, thereby reducing the block development time.

About Essar Power
Essar Power is one of India's leading private power producers with over 14-year operating track record. Essar Power owns and operates power plants in India and Canada with a total generation capacity of 6,700 MW.

Media contact:
Rabin Ghosh, +91 99 301 36268, rabin.ghosh@essar.com

 
Advertise Here [728 W x 90 H pixels]