|Infrastructure Leasing and Financial Services Ltd. (IL&FS) is set to invest about Rs. 35,000 crore for setting up 6,000 megawatt (MW) of power generation capacities in Kutch -Gujarat, the company said.|
IL&FS Group has already laid out plans for a multi-product Special Economic Zone at Kutch and two power generation facilities combining 6,000 MW capacities in the SEZ.
"The group is proposing to set up 4000 MW of coal-based power project with a cost of Rs. 28,004.65 crore and 2000 MW of gas-based power project at the cost of Rs. 7,187 crore. The funding will be met through an appropriate mix of debt and equity funds," the company responded to an email query by Business Line.
The company has already signed the agreements with the Gujarat Maritime Board, Government of Gujarat for the development of the Shipyard, Captive Jetties and LNG Terminal at Nana Layja and also for the development of SEZ and Free Trade and Warehousing Zone (FTWZ).
IL&FS Group company, IL&FS Maritime Infrastructure Company Ltd. (IMICL) is undertaking the day-to-day project development activities for an Integrated Maritime Complex comprising a Shipyard and a multi-product SEZ at Nana Layja where IL&FS is the co-developer, company's web site says.
The Project site is located at the mouth of Gulf of Kutch and is 95 km from Kandla Port and 65 km from Bhuj.
However, the company declined to have any fresh proposal for investments to be announced in the Vibrant Gujarat Global Summit, 2015. "As we are in the process of implementing these projects, in the 2015 Vibrant Gujarat, there is no fresh proposal," the company said.
Meanwhile, the Kutch district collector has recently announced big ticket investment plans from the power and cement sectors.
"The district will attract investment to the tune of Rs. 40,000 crore over the next three years. This will be mainly in the fields of power, cement and minerals," Mahendra Patel, Kutch district collector had informed last week.