Hindalco, Essar to invest Rs 7700 cr | india | Hindustan Times
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Hindalco, Essar to invest Rs 7700 cr

THE HINDALCO and the Essar Companies will invest Rs 7700 crore on Mahan Coal Block, five coal-based power units of total 750-MW capacity and an aluminium smelter plant of 3.25-lakh ton annual capacity in Sidhi district. A memorandum of understanding (MoU) will be signed with the Madhya Pradesh Government on April 5 next.

india Updated: Mar 22, 2006 13:46 IST

THE HINDALCO and the Essar Companies will invest Rs 7700 crore on Mahan Coal Block, five coal-based power units of total 750-MW capacity and an aluminium smelter plant of 3.25-lakh ton annual capacity in Sidhi district. A memorandum of understanding (MoU) will be signed with the Madhya Pradesh Government on April 5 next.

D Bhattacharya, Managing Director of Hindalco Industries of Aditya Birla Group informed this to Chief Minister Shivraj Singh Chouhan at Vidhan Sabha here today. Industry Minister Babulal Gaur was also present on the occasion.

Bhattacharya informed that the Government of India has granted permission for mining of Mahan Coal Block two days ago. The Hindalco and the Essar companies will jointly invest Rs 600 crore on coal block and Rs 2650 crore on power units. Hindalco will invest Rs 4450 crore on aluminium smelter plant.

Bhattacharya informed that preliminary work of these units would begin immediately after signing of the MoU with the Madhya Pradesh Government.

The smelter plant will be established near Bargawan, about 70 km from Sidhi. Principal Secretary Industry O P Rawat, secretary to CM Anurag Jain and other senior officers of Hindalco were present on the occasion.