Companies

RPG Group announces Rs. 10,500 crore thermal plant

CESC Ltd., the flagship company of city-based RP-Sanjiv Goenka Group, on Tuesday announced an investment of Rs. 10,500 crore in West Bengal, the group’s first major investment proposal since the new government came to power in the State.

Group Chairman Sanjiv Goenka said that the CESC Board which met in Kolkata on Tuesday has approved the setting up of a 3x660MW thermal power plant at Balagarh in West Bengal’s Hooghly district at an investment of Rs. 10,500 crore.

Around 997 acres needed for the project is already with the group, which is actually reviving a project it had shelved some years ago due to various factors, including difficulty in getting fuel linkage.

Mr. Goenka said that the implementation of the project would depend on getting assured coal linkage, for which it has sought the help of the State government.

CESC, which mainly serves the city and its vicinity, also has projects in Maharashtra and Orissa as well as in West Bengal’s Haldia. It has also taken up renewable energy projects in Gujarat and Arunachal Pradesh.

The CESC Board also approved the fourth quarter results. Profit after Tax (PAT) for the quarter stood at Rs. 266 crores against Rs. 74 crores of the previous quarter. Full year’s PAT rose to Rs. 565 crores against Rs. 488 crores in 2010-11, mainly on account of Rs. 100 crore benefit on account of a tariff revision.


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Printable version | Dec 3, 2021 1:55:24 PM | https://www.thehindu.com/business/companies/rpg-group-announces-rs-10500-crore-thermal-plant/article3397522.ece

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