March 7, 2019 / 8:25 AM / 4 months ago

Cabinet okays plan to revive stressed thermal plants, build new units

Finance Minister Arun Jaitley attends a news conference sharing details about the recapitalisation of public sector banks in New Delhi, January 24, 2018. REUTERS/Saumya Khandelwal/Files

NEW DELHI (Reuters) - The cabinet on Thursday approved a plan to revive some of the some stressed thermal power plants and set up new coal-fired power plants to curb power deficit, Finance Minister Arun Jaitley said.

Power projects of 1,320-megawatts capacity would be set up in the eastern state of Bihar and the northern Uttar Pradesh, he said.

While the Bihar power plant would cost 104.39 billion rupees ($1.49 billion), the one in Uttar Pradesh would be built with an investment of 110.89 billion rupees.

The two power projects would start operations from 2023-24, Jaitley said.

Reporting by Nidhi Verma; Editing by Subhranshu Sahu

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