India's Jindal to Invest $2.97 Billion in Four Power Plants in Jharkhand

BANGALORE, INDIA--June 18, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Jindal Steel and Power Limited, an Indian steel-manufacturing and power-generation major, has entered into a memorandum of understanding with the state government of Jharkhand to set up an estimated $2.97 billion, 2,640-megawatt (MW) coal-based power project in the state. The agreement is one of about 25 in the power sector that have been signed between Jharkhand's government and interested investors to address the state's acute power crisis.