JSW Energy plans Rs 40,000-cr investment in power projects


MUMBAI:3 Jan 2010

JSW Energy, the first company to be listed on the bourses in 2010, on Monday said it plans to invest around Rs 40,000 crore in developing power projects of 8,000 MW.

“We have got 8,000 MW in the pipeline, so this money will be needed for that. The investment (for this) is close to Rs 40,000 crore,” the Managing Director, Mr D. Sajjan Jindal, said on Monday but did not specify the duration for this investment.

The company is implementing projects worth 3,200 MW in Maharashtra, 1,320 MW in Chhattisgarh and 1,600 MW in West Bengal. It plans to become an over 11,000-MW company by 2015.It is also toying with idea to invest in Sikkim in Power Projects.

“Part of the issue proceeds will be used for expansion into new projects, part will be used for repaying debt and part of the proceeds is for general corporate purpose,” Mr Jindal told reporters after the company’s listing ceremony here.

JSW Energy, which has an installed capacity of 995 MW, is also setting up a 860-MW plant in Vijaynagar (Karnataka) and 130-MW plant in Barmer (Rajasthan).