Tata Power plans to spend Rs 17,000 cr on Mundra plant

Tata Power, India's third-biggest utility by value, will spend Rs 17,000 crore ($4.2 billion) on a plant at Mundra in Gujarat.

The plant will generate 4,000 mw of electricity, Amulya Charan, the managing director of Tata Power Trading Co, a unit of Tata Power, told journalists in New Delhi today.

Tata Power may import 12 million tonnes of coal from countries, including Indonesia, for the plant, According to Amulya Charan.

"We are evaluating options on how to mitigate freight costs," Charan said.

"We have set up a subsidiary in Singapore. We may also go in for buying ships ourselves."