Ind-Barath Energy Utkal Limited (IBEUL) expects to start construction work for its proposed 700 MW (2x350) coal-based power plant at Sahajbahal in Jharsuguda district of Orissa by January next year. The power project, estimated to cost Rs 3,150 crore, is scheduled to be commissioned by January 2011.
“The company will install equipment and machinery for the power plant next month. We have already paid an advance of Rs 30 crore to an EPC (engineering, procurement and construction) contractor for the project”, Muralidhar Mishra, deputy general manager (corporate relations and administration), IBEUL told Business Standard.
The power project has already got the approval of the state level Single Window Clearance Authority and the company is now awaiting the nod from the High Level Clearance Authority. IBEUL has also achieved a financial closure of Rs 1,181 crore for the power plant. Of the total investment of Rs 3,150 crore for the project, the equity component is Rs 730 crore while the remaining amount is being raised by the company through debt.
Out of around 600 acres of land required for the project, the company has already taken possession of 423acres through negotiations with about 120 land losers and it expects to acquire the balance land area soon.
“IBEUL is offering rehabilitation package to the land losers in conformity with the Rehabilitation and Resettlement policy of the Orissa government of 2006. The power plant will generate direct employment for 360 persons out of which 200 will be drawn from the local village and its peripheral areas”, said Mishra.
The company has already selected 50 locals for multi-skilled training at the JJ Irani Centre at Belpahar, near Jharsuguda. The training which is of three months duration will be imparted to these persons in two phases and each phase will include 25 people.
IBEUL has secured coal linkage in the Ib valley coalfields and the coal requirement for the power plant will be 3.4 million tonnes per annum. The Orissa government has ensured availability of water from Mahanadi river and the power plant will require 28 cusecs of water per day.
It has also hired a consultant which is in the process of preparing an environmental impact assessment (EIA) study for the power plant and the EIA report will be submitted soon to the state pollution control board.
