Vedanta Resources group firm Sterlite Industries today said it has started commissioning the first unit of its about Rs 8,200-crore power project in Orissa.
"Sterlite Industries announces that its wholly-owned subsidiary Sterlite Energy has successfully lighted the boiler for the first unit of 600 Mw of the 2,400 Mw thermal independent power plant in Jharsuguda, Orissa," billionaire Anil Agarwal-led company said in a statement here.
"Following the boiler light up, commercial operation is expected to commence in September 2010," it added.
Sterlite Energy has planned to install power production capacity of 11,000 Mw in the country in next 5-7 years. It has also proposed to launch an initial public offer (IPO), which may take place later this year, to part fund its projects.
"This is the first 600 Mw power unit in the private sector in India," it claimed. The company has already tied up finances worth Rs 6,150 crore for the Orissa project. In addition, Sterlite Industries is infusing a capital of Rs 2,050 crore.
Sterlite Energy is in process to set up two commercial power projects-- 2,400 Mw plant at Jharsuguda in Orissa and 1,980 Mw utility in Punjab at an investment of about Rs 15,000 crore.
Vedanta Resources group companies, including Sterlite Industries, Hindustan Zinc are planning a cumulative capital expenditure of Rs 20,000 crore in the next one year to take the overall power production (captive and commercial) to 6,500 Mw from the present 4,500 Mw.