To tackle power shortage in India a new thermal power plant is going to be built up in Orissa. This thermal power plant will be a Joint venture type set up.
The joint venture is between Tata group and Jasper Industries. Tata group will invest in this Joint venture through its group company Tata Steel & its wholly owned subsidiary Rawmet Ferrous Industries.
The new joint venture entity is being named as Bhubaneshwar Power Private Limited. In this new entity Tata Steel & Rawmet Ferrous Industries will together hold a 26 % stake will Jasper Industries will own 74 % stake.
This thermal power plant will generate around 135 mega watt of electricity. It will be located at Anantpur village which is in Tack, Orissa. Around 600 crores rupees will be invested for this project.
The generated power from this plant will act as a raw material for Rawmet Ferrous Industries in the process of making ferro chrome. This will helps in keeping the cost of ferro chrome under check. Some power will also be sold to the national power grid.