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Mumbai:
Torrent Power Ltd has signed a memorandum of understanding
with Gujarat Power Corporation Ltd (GPCL) for setting
up a 1000 MW coal-based power project at Pipavav in Gujarat.
The
project, to be developed through a special purpose vehicle,
is expected to be implemented by March 2012, Ahmedabad-based
Torrent Power said in a release.
The
joint venture has partially acquired land for the project,
the statement added.
Initially, the project will have a capacity of 1000 MW,
which could be subsequently increased, the release stated.
Torrent
Power, promoted by the Rs3,800 crore Torrent group, is
engaged in generation, transmission and distribution of
power. It currently generates 500 MW power through its
coal and gas-based power plants in Ahmedabad and is in
the process of setting up a 1130
MW power project near Surat.
GPCL
is a nodal agency set up by the state government to promote
power projects in the state.
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