Tiruchirapalli: Cethar Vessels Private Ltd, a power plant equipment manufacturer, is setting up two 135 mw thermal power plants in Raigad district in Maharashtra at a cost of Rs1,100 crore, company chairman K Subburaj said on 9 July.
The company would take possession of the land at Vhile Bhagar village in the district this week and the project would be commisioned by June 2009, he told PTI here.
Initially coal stocks would be imported for the coal based power plant. For subsequnt operations of the Utility Power Plant, coal would be mobilised from nearby pitheads, he said.
He said the Rs420 crore expansion programme to increase the capacity of the vessels manufacturing facility near here, from 5,000 MW to 8,000 had commenced in June 2005 and would culminate by March 2008.
The company also plans to produce Power Plant turbines at a cost of Rs800 crore with an annual production capacity of 4000 MW. It will be a Joint Venture with a foreign partner, details of which would be finalized before the month end.
He said Cethar registered a turnover of Rs1079 crore in the year ending 31 March, 2007 and the target for the current fiscal was Rs2,000 crore.
To a query, he said Cethar would go public before this fiscal end with a launch of IPO (Intial Public Offer) with an aim to mop up around Rs 1000 crore.
Cethar would also float a new venture - Global Engineeing Services, to render engineering services on automobile, power generation, aerospace, fabrication and construction, he said.
Before next December, a state-of-the-art office would be got ready near here and at Alandur in Pudukottai district, about 30 km from here, he added.