Tuesday, January 19, 2016

CVR Group to set up 2,780 MW thermal project in Andhra

The company will be setting up three units of 660 MW each and one of 800 MW, with an estimated investment of Rs 16,680 crore, near the coastal region of Bay of Bengal in the state, a statement issued here stated.

CVR Group (Chinta VisveswaraRao Chairman)-led Krishnapatnam Power Corporation on Monday said it has signed a memorandum of understanding (MoU) with Andhra Pradesh government to build a 2,780 MW thermal power project entailing an investment of Rs 16,680 crore. 

Under the MoU, the company will be setting up three units of 660 MW each and one of 800 MW, with an estimated investment of Rs 16,680 crore, near the coastal region of Bay of Bengal in the state, a statement issued here stated. 

"The recent agreement has tremendously fortified our commitment and contribution towards the macro scheme of infrastructure mission of Andhra Pradesh which envisions the creation of world class infrastructure for excellent connectivity and augmenting power generation capacity," said Krishnapatnam Power Corporation Director Chinta Sasidhar. 

The ambitious project is expected to create direct and indirect employment opportunities for around 1,500 people. "With the commissioning of these projects, we expect the huge demand of the state to be dealt actively apart from creating immense job opportunities," he added. 

The CVR Group has ventured into power generation by developing an installed capacity of about 5,000 MW comprising thermal as well as hydroelectric power plants.

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