CHENNAI: The Chhattisgarh Government, along with the Chhattisgarh State Electricity Board, signed a memorandum of understanding (MoU) on October 7 with Bharat Aluminium Company (BALCO), subsidiary of Sterlite Industries (India) Ltd., for setting up a 1,200 MW coal-based power project. This thermal project envisages an investment of Rs. 5,000 crore and is estimated to be completed in 40 months, once all the regulatory and statutory approvals are received, according to a release.