Jaypee Wins Power Projects In Meghalaya

Jaiprakash Associates (JAL), the cement and construction major, a part of Jaypee Group, has been awarded with two hydro-power projects of 720 mw in Meghalaya. The company is looking at putting in Rs 6,000 crore in these two hydro projects. Jaiprakash Power Venture, the 100 per cent subsidiary of Jaiprakash Associates, will hold 74 per cent stake in the joint venture with Meghalya Government. After finalizing 2500 mw hydro projects in Arunachal Pradesh, Jaiprakash Associates has now moved to Meghalya to set up more projects.

The company will execute the power projects on built-own-transfer basis for 40 years. The stock of the company rose to its lifetime high of Rs 2,045 but finally it close the day with gains over 4.5 per cent at Rs 2,018. Jaiprakash Associates now has total capacity of 5,600 mw of hydro power and the management is evaluating options to unlock value. Jaiprakash Associates is planning to invest over Rs 18,000 crore to increase its power generation capacity in the coming period.