MARKET EYE-Jaiprakash Power gains on coal mine forest clearance

Tue Dec 4, 2012 11:16am IST

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* Shares in Jaiprakash Power Ventures gain 7 percent
after its parent company, Jaiprakash Associates, said
in a statement the Amelia North coal mine has received the final
Stage II forest clearance for diversion of 728.75 hectares of
forest land for coal mining. 
* "Mine clearance has certainly been one of the important
catalysts for JPVL's stock performance and removes a difficult
overhang," Deutsche Bank says in a report. 
* The investment bank adds the coal from Amelia in Madhya
Pradesh state is scheduled to be used for the company's 1,320 MW
Nigrie thermal power project, which is expected to be
commissioned by March 2014.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
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