Gokul Refoils and Solvent (GRSL) today said that its 80 Mw lignite-based thermal power station in Gujarat is likely to start operations by the end of 2012-13 fiscal.
The company is setting up the plant in a joint venture with Gujarat Mineral Development Corporation (GMDC). The power station will be set up near Tadkeshwar in Gujarat's Surat district and GRSL plans to expand its capacity to 135 Mw going forward.
"We are setting up a power plant at Tadkeshwar with a production capacity of 80 Mw, which will be operational by end-FY 13. Both the equity partners have in principle agreed to expand it to 135 Mw...May be in the same year," Gokul Refoils' Vice-President (Corporate Strategy), Praveen Khandelwal, told PTI here today.
GRSL will set up the plant in a 74:26 JV with GMDC at an initial investment of Rs 460-crore, Khandelwal said, adding that the total project would cost around Rs 600-700 crore. The funds would come as a combination of debt and equity in the proportion of 70:30.
