Jaiprakash - Jaiprakash acquires Bina Power from Aditya Birla group

ET reported that Jaiprakash Power Venture Limited has acquired Bina Power Supply Limited from the Aditya Birla Group for INR 150 to INR 175 crore. Aditya Birla Group had formed BPSCL in the early 1990s to develop a 1,000 MW power plant in two phases of 500 MW each at Bina in Madhya Pradesh, but did not pursue it after the initial progress.

Mr Suren Jain MD of JPVL said that "JPVL has now approached the Madhya Pradesh government for revival of the various approvals required for the setting up of the plant." He added that the first phase of the project would commence operations within 48 months of receipt of all approvals. JPVL plans to commission 500 MW in the first phase at an investment of INR 2,500 crore and subsequently raise the capacity to 1,000 MW.

Post the Bina acquisition, JPVL will have interests in almost 7,000 MW of power assets. These projects, which are at different stages of implementation include 1,000 MW Karcham Wangtoo Hydro Electric Project, 1,320 MW super critical technology coal based power plant at Nigrie in MP, two projects totaling 2,500 MW in Arunachal Pradesh and two projects totaling 720 MW in Meghalaya.



Link to the article: http://steelguru.com/news/index/2008/05/23/NDY3NDk%3D/Jaiprakash_acquires_Bina_Power_from_Aditya_Birla_group.html