Following are excerpts from a moneycontrol report on this.

CNBC-TV18 has learnt that Suryachakra Power is in talks with the Orissa government for a 1,200 MW thermal power project.

The company may set up the Orissa plant in four phases, added sources. The first phase of the Orissa plant will cost USD 300 million.

The company will buy coal from Tata Power Trading Company and sell power to Tata Power. They are likely to form special purpose vehicle, or SPV, to fund the Orissa project. …