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JSPL to invest ₹1,500-cr in Monnet Power plant

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JSPL to invest ₹1,500-cr in Monnet Power plant

The recently acquired Monnet Power plant will require an investment of more than Rs. 1,500 crore, according to plans released by indal Steel and Power Limited (JSPL). According to JSPL’s Managing Director, Bimlendra Jha, the investment will be made within 18 months. Through bankruptcy, the corporation paid 410 crore for the indebted Monnet Power facility.

A 1,050-megawatt coal-based power facility called the Monnet Power plant is now being built close to JSPL’s steel factory in Angul, Odisha. When finished, the facility will supply energy to JSPL’s steel mill in Angul, which is presently expanding. The Uktal B1 and B2 mines, which JSPL recently won in an e-auction process and have roughly 347 million tonnes of reserves close to Angul, will supply the coal for Monnet Power.

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