November 22, 2008

Elango Industries to setup power plant in Gummudipoondi

Elango Industries Limited has announced that the company shifted its focus from Steel Industry to Power Generation and Distribution.

At the moment, the Company is planning to setup an 80 megawatt coal based Power Plant at Gummudipoondi near Chennai, Tamil Nadu. It has considerably progressed to implement the power plant and expecting the financial closure before December 2008.

In 2006 it commissioned a Gas based Power Plant at Mayiladuthurai Tamil Nadu, through a SPV viz. Kaveri Gas Power Limited. The Group Captive Plant completed 2 years of successful operation and declared dividend to their investors.