New Delhi: UAE-based diversified group ETA Ascon plans to invest up to Rs 6,000 crore for setting up two coal-based power plants of a total capacity of 1,200 MW in the country.
Group company ETA Ascon Star is scouting for a location in Tamil Nadu and Andhra Pradesh to set up the power plants, which will be of 600 MW each.
“Our project will be based on high quality imported coal for which we are looking for land in the eastern coastal areas of Tamil Nadu and Andhra Pradesh,” ETA Ascon Star Director Hameed Syed Salahuddin told PTI.
He said the company plans to set up both the power plants at a single location. When asked about the timespan for the operationalization of these plants, he said: “It would need minimum three years to construct the power plant and in the next three months we are hoping that we may begin the civil work.”
He said the company intended to import around 5-6 million tonnes of coal annually for its proposed power plants and is also looking to develop its own captive port.
ETA Star, which also has a biomass-based power project of 10 MW in Punjab, plans to set up a similar project in Tamil Nadu by using wood flakes as fuel.
“Sourcing of biomass is a big constraint for power projects, therefore, we are only setting up a small power project and would not go for large biomass power projects in India,” he added.
ETA Star is part of the Dubai-based ETA Ascon, a Rs 16,000-crore group with interests in civil construction, real estate, infrastructure, shipping, automotive industry and building maintenance.