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Coastal Energen, the privately held power generation venture of Coal & Oil group, has signed a boiler turbine generator procurement contract with Harbin power engineering Co, one of China’s largest power equipment firms.
The tie up is for the 1200 MW coal-based power plant being set up by Coastal Energen at Tuticorin at an estimated cost of Rs4500 crore. According to a company statement, the first phase is expected to be commissioned within 36 months.
The mega investment will mark the entry of the Rs2000 crore C & O group into the Indian power sector. C & O was promoted in 1998 by Ahmed Buhari and his family (the co-promoters of the ETA-Ascon group and Buharia group) and the Al Rostamani group, Dubai.
The C & O group is one of the largest suppliers of steam coal to India and it imported close to six million tonnes last year. It has experience in handling all aspects of fuel supply chain for many of the large power plants in India including Tatas, Reliance, Calcutta Electric, Torrent and KPCL.
The group has also initiated steps to ensure a sustainable development and social infrastrcuture in the region surrounding the power plant at Tuticorin.
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Coastal energen create good power future in tuticorin