Manufacturer of steel and foundry equipment, TMT bars and electric two wheelers, Ahmedabad-based Eletrotherm (India) Ltd. is mulling setting up of a 50MW solar thermal power plant in Kutch region of Gujarat. The company plans to invest around Rs 400 crore for the project.
"We intend to set up a solar thermal power plant in the Kutch region in the state. We will be signing a memorandum of understanding with the Gujarat government during the upcoming Vibrant Gujarat Global Investors' Summit," said Mukesh Bhandari, chairman and chief technical officer of Electrotherm.
Hoping for an approval from the state government, the company expects the project to be completed within 1.5 years. Once commissioned, power will be sold for domestic and industrial use alike, added Bhandari.