Jindal Power Limited (JPL), a subsidiary company of Jindal Steel, has signed up a Memorandum of Understanding (MoU) with the state government of Jharkhand for the establishment of a 2,640 MW (4X660 MW) power project in the state of Jharkhand with a total cost of Rs 118.80 billion.

Under the MoU, the Government of Jharkhand will stretch all reasonable help to JPL for establishing this Project including offering up all state level clearances, choosing coal blocks within the state and recommending Govt. of India for allocation of coal blocks, getting land for plant, permitting drawl of water for project, linking project to PGCIL grid, building necessary road, getting right of way and making available essential power during construction stage.

Jindal Power Limited (JPL), a power generating company formed in 1995 under the Companies Act, 1956 is setting up a coal based 1000 MW (4 x 250 MW) O.P.Jindal Super Thermal Power Plant near Village Tamnar in Raigarh District in the State of Chhattisgarh, India.

At 1:40 pm, shares of the company declined 3.2%, to trade at Rs 2,179 on the Bombay Stock Exchange (BSE).