Essar group committed to Rs 10,000 crore investment for Jharkhand: Shashi Ruia

RANCHI: The Essar group today said it was committed for about Rs 10,000 crore in Jharkhand for setting up a 1200MW power plant at Tori in Latehar district and development of Toskiud North Coal Mine with an estimated investment of about Rs 1100 crore.

"The power project is at an advanced stage of completion, with over Rs 4,700 crore already invested on the ground," Group Chairman Shashi Ruia said in his speech at the Jharkhand Global Investors' Summit here.

Once operationalized the Power Plant and Tokisud North Coal Mine shall together generate employment to approximately 5,500 people with a direct employment of 1000 people and indirect employment of 4500 people, he said.

Ruia said that Jharkhand had granted all statutory clearances for the power plant, but the coal blocks that were allotted as fuel source for this project were de-allocated by the Supreme Court thus bringing the project to a standstill.

"We are now awaiting fuel linkage and are confident that the state and central governments will support fuel requirement for the project through the upcoming coal mine auctions and linkages.

"I am pleased to share with you that the Tori Power Plant will be a state-of-the-art facility with world-class provisions for safety and sustainability."

Essar's outsourcing business Aegis has set up a BPO facility at Jamshedpur with 2500 seating capacity, he said.

"I am happy to inform you that we are considering to set up a similar facility at Ranchi which will have 2000 seating capacity," he said.