The Orissa government has decided to expand the capacity of the 2X210 mw Ib thermal power plant at Banharpalli in Jharsuguda district by setting up third and fourth units of the complex.
According to energy minister SN Patra, the two new units will cost about Rs 1567.21 crore. OPGC, 51 per cent stake of which is owned by the state government, will invest Rs 475 crore i.e. 30 per cent of the project cost in the equity. The balance 70 per cent will be debt.
Patra said, infrastructure worth Rs 75 crore has already been developed for the two units during the construction of the first and second units.
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The remaining Rs 400 crore will be spent form the internal resources of OPGC over a period of 32 months in three phases.
Forty nine per cent stake in OPGC is owned by AES Transpower of the US, whose nominee is the managing director of the company.
Sources said, OPGC will soon appoint technical consultants for the proposed two units while Gridco, the bulk purchaser of power from the existing units, will scout for consultant for marketing of power.
Patra said, the planning commission has given its approval for the expansion of the Ib valley plant in 1987.
OPGC has got the clearance from the ministry of forest and environment for the proposed two units. Clearance for coal linkage, land, water and civil aviation has also been obtained.