Suryachakra Power Corporation Ltd has announced that the Memorandum of Understanding entered into between Suryachakra Power Corporation Ltd and China Guodian Corporation has been extended for one more year ie upto October 23rd 2011.

The MoU was executed by the parties is for setting up 1200 MW coal based thermal power plants in Chhattisgarh / Orissa or any other potential location in India. As per the MoU, CGC would invest up to 50% in the joint venture.

Necessary steps would be taken in this direction, subject to the approvals, as may be applicable, from the statutory authorities including FIPB etc.