<p>The company has already got the Board approval for this and will invest around Rs 3,300 crore in the unit, its Vice- Chairman N K Jain told reporters here today.<br /><br />"We have received Board approval for setting up a 660 MW super critical technology-based power project at Vijayanagar by April next. We chose Vijayanagar as there was no hassle for land acquisition and infrastructure. The funds will be a mix of debt and equity of 3:1," Jain said while announcing the company's quarterly results.<br /><br />The company already runs a 860 MW plant in Vijayanagar, and the new project will be based on imported coal and will be designed to use domestic coal, for which allotment linkage is being sought. The project is expected to be completed in 42 months from the zero date of April 2010.<br /><br />The power major had posted a consolidated net profit of Rs 184 crore for the quarter ended September 30, a marginal six per cent growth, as against Rs 173 crore in the year-ago period.<br /><br />The total income was up 56.33 per cent at Rs 895 crore in the second quarter from Rs 572 crore in the same period the previous fiscal. <br /><br />"There was a marginal squeeze in the net profit due to increased fuel prices," Jain said.<br />Besides, the company has also got Board approval for the merger of its 1,200 MW power plant of JSW Energy Ratnagiri Ltd with JSW Energy.<br /><br />Going ahead, the company is also planning to set up four units of 300 MW power projects at Ratnagiri in Maharashtra. Of this, one has been already set up and the second unit is expected to commission by November, while the third and fourth would also be commissioned in the current fiscal.</p>.<p>Meanwhile, the company would also be floating a special purpose vehicle for its 240 MW Kutehr hydroelectric power project at Himachal Pradesh at an investment of Rs 1,798 crore.</p>.<p>The Himachal Pradesh Government has invited expressions of interest in seven to eight hydro projects and JSW is looking at all the projects, Jain added.<br /><br /><br /></p>
<p>The company has already got the Board approval for this and will invest around Rs 3,300 crore in the unit, its Vice- Chairman N K Jain told reporters here today.<br /><br />"We have received Board approval for setting up a 660 MW super critical technology-based power project at Vijayanagar by April next. We chose Vijayanagar as there was no hassle for land acquisition and infrastructure. The funds will be a mix of debt and equity of 3:1," Jain said while announcing the company's quarterly results.<br /><br />The company already runs a 860 MW plant in Vijayanagar, and the new project will be based on imported coal and will be designed to use domestic coal, for which allotment linkage is being sought. The project is expected to be completed in 42 months from the zero date of April 2010.<br /><br />The power major had posted a consolidated net profit of Rs 184 crore for the quarter ended September 30, a marginal six per cent growth, as against Rs 173 crore in the year-ago period.<br /><br />The total income was up 56.33 per cent at Rs 895 crore in the second quarter from Rs 572 crore in the same period the previous fiscal. <br /><br />"There was a marginal squeeze in the net profit due to increased fuel prices," Jain said.<br />Besides, the company has also got Board approval for the merger of its 1,200 MW power plant of JSW Energy Ratnagiri Ltd with JSW Energy.<br /><br />Going ahead, the company is also planning to set up four units of 300 MW power projects at Ratnagiri in Maharashtra. Of this, one has been already set up and the second unit is expected to commission by November, while the third and fourth would also be commissioned in the current fiscal.</p>.<p>Meanwhile, the company would also be floating a special purpose vehicle for its 240 MW Kutehr hydroelectric power project at Himachal Pradesh at an investment of Rs 1,798 crore.</p>.<p>The Himachal Pradesh Government has invited expressions of interest in seven to eight hydro projects and JSW is looking at all the projects, Jain added.<br /><br /><br /></p>