NEW DELHI, May 1 (UPI) -- India's Coastal Energen Pvt. Ltd. announced plans to set up a 2,000 megawatt power plant in Tamil Nadu state.
The company acquired around 1,000 acres to set up the plant, which will initially generate 1,100 MW power.
"The plant aims at supplying power to both industries and consumers and will bring down power-generation cost," said company President and Chief Executive Officer Ahmed Buhari. "The first phase of work will commence in mid-June and the plant is expected to be commissioned within 36 months from the commissioning of work."
He said work on the second phase would start simultaneously. The company has been allotted 50 acres to set up a 400 KV power distribution station, he said.
He said the state government could buy 25 percent of the power generated by the plant, which falls under the category of merchant power project. With a view to attract foreign direct investment from the Middle East, the company has partnered the multibillion-dollar Abdul Wahid Al Rostamani group.