Mumbai: Bajaj Hindusthan Ltd, part of the Bajaj Group, today said it has decided to expand the company’s power generation capacity by 400 MW at about Rs1,600 crore.
The company’s board on Wednesday approved the expansion of power generation capacity by 400 MW by way of setting up of new coal based power plants of 80 MW each at five locations on the land adjacent to the existing sugar factories, Bajaj Hindusthan Ltd said in a filing to the Bombay Stock Exchange (BSE).
Bajaj Hindusthan is the country’s top sugar and ethanol manufacturing company.
“These new projects are expected to be completed within a period of around 20 months at an aggregate project cost of around Rs1,600 crore,” the company said.
With these new power plants, power generating capacity of the group will increase to 830 MW from 430 MW, it added.
Shares of Bajaj Hindusthan surged 4% in afternoon trade on the BSE and was trading at Rs 221.70.