Following is an excerpt from a report in Telegraph.

Eight power companies today promised to invest Rs 42,000 crore in the state to build plants that will generate over 4,780MW.

…Naveen added that his government’s initiatives during the past four years in encouraging value-added steel, aluminium and cement projects had led to promised investment of around Rs 6 lakh crore out of which Rs 50,848 crore had already been realised.

The companies, which signed MoUs today, were Astaranga Power Company Ltd (2,640MW), Sahara India Power Corporation (1,320MW), Ind-Barat Energy Utkal Limited (700MW), Jindal Steel and Power Ltd (1,320MW), Visaka Thermal Power Pvt Ltd (1,100MW), Kalinga Energy & Power Limited (1,000MW), Arati Steel (500MW) and Chambal Infrastructures and Ventures Ltd (1,200MW).

While Astaranga Power Company intended to establish 2,640MW thermal power plants in two phases at Astaranga in Puri district with an investment of Rs 11,200 crore, Sahara India Power Corporation proposed to set up 1,320MW thermal power plant at Turla village in Bolangir district at an estimated cost of Rs 5,604 crore.

Similarly, Ind-Barat Energy Utkal planned to set up 700MW thermal power plant at Sahajbahal near Banharpali in Jharsuguda district with an investment of Rs 3,150 crore. Visaka Thermal Power will set up a 1,100MW coal-based power plant at Bhandaripokhari or Banto block in Bhadrak district at an investment of Rs 4,800 crore. Jindal Steel and Power proposes to set up a 1,320MW thermal power plant at Athamallik tehsil in Angul district with an investment of Rs 5,940 crore.

Besides, the Kalinga Energy plans to set up a 1,000MW thermal power project at an investment of Rs 4,261 crore at Babuchakuli.

While Arati Steel proposes to set up a 500MW thermal power plant at Ghantikhal in Cuttack district, Chambal Infrastructures and Ventures Ltd plans to set up 1,200MW power plant at Siaria in Dhenkanal district.

According to the MoUs, the state would get the benefits in shape of contribution to the environment management fund, value-added tax, coal royalty and water cess.

Around 1,174 to 1,370MW of power would be available to Orissa at variable cost (less than Rs 1.50 per unit), depending on the coal block availability.

This benefit would be extended to the consumers so that got power at cheaper rate, said energy secretary P.K. Jena, who signed the MoUs on behalf of the government.