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Texas Power's investment plans

Staff Reporter

NEW DELHI: With the Centre permitting 100 per cent foreign investment to boost power generation, the U.S.-based Texas Power Generation LLC on Friday said it would invest around Rs. 46,000 crore ($10 billion) in the next ten years for setting up power plants.

The company had already ordered feasibility studies for setting up 1,320 MW coal-based power project in Chhattisgarh besides applying for a mining block in its vicinity. Addressing a press conference here, the Chairman and Chief Executive Officer of Texas Power Generation, Vijay Kumar Jain, said, "The Chhattisgarh Government has signed a memorandum of understanding with us.

"Besides building the power plant, we will also develop a captive coal mine next to the site where we will be investing between Rs. 4,000 crore and Rs. 5,000 crore in the project, while another Rs. 2,000 crore will be invested for the coal mine," Mr. Jain said.

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