Elango Industries To Establish Coal-Based Power Plant In Tamilnadu

Leading medium and small steel manufacturer, Elango Industries has unveiled its plans to set up an 80MW (mega watt) coal based power plant at Gummudipoondi near Chennai, Tamilnadu.

The company did not divulge the financial details of the project.

The company (Elango Industries) has also informed that it has shifted its business from Steel Industry to Power Generation and Distribution.

In fact, in 2006 it commissioned a Gas based Power Plant at Mayiladuthurai Tamilnadu, through a SPV viz. Kaveri Gas Power Ltd.

Shares of the Elango Industries closed at Rs 23.20 on National Stock Exchange. The total volume of shares traded was 20 at the Bombay Stock Exchange.

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