Tata Power Company Ltd on Tuesday said it will invest Rs 9,000 crore for developing a 2000 MW coal-based power project in Orissa.
The company has signed an MoU with the Orissa government for development of a 1,000 MW coal-based project with an investment of around Rs 4,300 crore at Naraj Marthapur in the state, it informed the Bombay Stock Exchange.
Another 1,000 MW is expected to come up under the second phase of the project and would take the total capacity to 2,000 MW with an estimated investment of Rs 9,000 crore, it added.
The Orissa government has sought to extend comprehensive assistance to the power project through active participation and would assist Tata Power for single window clearances and approvals.
The state government would also recommend to the central government for allocation of captive coal blocks or would assist in necessary coal linkages for the project.