Gujarat Alkalies and Chemicals Ltd (GACL) today said its board has approved setting up of a caustic soda plant along with 130 MW coal-based power unit in Gujarat with an investment Rs 1,936.90 crore.
In a meeting held yesterday, the Board of Directors of GACL have also approved setting up of a 15 MW solar power plant on EPC basis at an estimated project cost of Rs 100 crore.
In a BSE filing, GACL said, "The Board considered the revised draft project report (DPR) due to change in location of the project from plot no CH-17 Dahej to plot no 1-II/9 Dahej and approved the establishment of a 2,66,667 tonnes per annum caustic soda plant along with 130 MW power plant at revised cost of Rs 1,936.90 crore."
A joint venture firm GACL-NALCO Alkalies and Chemicals was formed in December 2015 to set up caustic soda unit and power plant.
In the filing, GACL said, "The board also approved the setting up of caustic pumping and transfer facility along with procurement of wagons under 'Liberalised Wagon Investment scheme' of Indian railway for transportation of caustic sod to NALCO-Damanjodi site at a total cost of Rs 62.70 crore in the JV company."
Thus, the total project cost for this project would be Rs 1,999.60 crore, it added.
In a separate filing, GACL said its board has approved setting up of a 15 MW solar power plant on EPC basis at an estimated project cost of Rs 100 crore.
"The project cost shall be funded from internal accruals/ surplus generated from internal operations and need-based gap, if any, shall be met from External Commercial Borrowings (ECB) or Rupee Term Loans," the company added.
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