The company said this has been done in a record period of 27 months, which is a new benchmark in the country and "the project envisages a total investment of USD 2 billion."
Jindal Power has commissioned the first 600-MW unit of an expansion scheme to existing 1,000 MW power plant in Chhattisgarh.
"JPL, a company promoted by Jindal Steel & Power Limited ( JSPL ), has achieved full load capacity for first unit of 600 MW of the 600X4 MW expansion project to its existing 1000 MW power Plant at Tamnar in Raigarh District of Chhattisgarh which is country's first Mega Power project in IPP (Independent Power Plant)," the company said in a statement.
The company said this has been done in a record period of 27 months, which is a new benchmark in the counry and "the project envisages a total investment of USD 2 billion."
The company has a plan to commission other two units by March 14, the statement said adding, the second unit has already been synchronised on February 22 and the third unit is in advanced stage of synchronisation.
"On completion of the expansion project of (600X4) 2400 MW- JPL will have a total capacity of 3400 MW in Tamnar. We intend to become a significant thermal power player in India over the next two years," JSPL MD & CEO Ravi Uppal said.
JPL has a vision of having installed capacity of 10,000 MW by 2020 with a unique approach of amalgamating diverse forms of power in thermal, hydro, solar and wind, it said.
Jindal Steel stock price
On March 11, 2014, Jindal Steel & Power closed at Rs 254.55, down Rs 7.2, or 2.75 percent. The 52-week high of the share was Rs 369.95 and the 52-week low was Rs 181.55.
The company's trailing 12-month (TTM) EPS was at Rs 14.45 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 17.62. The latest book value of the company is Rs 133.29 per share. At current value, the price-to-book value of the company is 1.91.
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