Tata Power to invest Rs 6,000 cr in Jharkhand

Power major Tata Power has said that it will invest Rs 6,000 crore to generate 1300 mw electricity in Jharkhand in the next three to four years.

The Jharkand Power Plant is expected to be commissioned by mid of 2009 and the new plant will be having a capacity of 120mw for which Tata Power will be investing Rs 640 Crore. The company’s future investment plans in Jharkhand included 2×120 mw power  plants in a period of three-four years.

However the completion of the project would depend on the allotment of land and coal blocks linkage to the power plant, for which the company has already applied to the Goverment and received assurance of allotment from the government.

Stock of Tata Power rallied today to close at Rs 1,097.90 up (12.03%) from its previous close Rs 980.