Coastal Energen Pvt. Ltd, an arm of the Coal & Oil Group of Dubai (C&O Group), announced its plans to set up a 2,000 MW power watt plant in Tuticorin district, Tamil Nadu.

The project would entail an investment of Rs 8,500 crore. The 1,080 MW (3X360 MW) first phase of work which entails an amount of Rs 4,500 crore will commence in mid-June and the plant is expected to be commissioned within 36 months from the start of work.

The 1000 acres required for the project has been fully acquired and has been approved by MOEF. The plant aims to supply power to both industries and consumers and will bring down power generation cost.

Further, the Tamil Nadu Government had the option to buy 25 per cent of the power generated by the project, the company stated in an official release.

With a view to attract FDI from the Middle East and rest of the world, the company has partnered with the multi billion dollar Abdul Wahid Al Rostamani group of Dubai, UAE (AWR Group).