Valecha Engineering to invest Rs20,000 crore to set up 440 MW plant

Valecha Engineering Ltd (VEL) said its subsidiary, Valecha Infrastructure signed a memorandum of understanding (MoU) with the Madhya Pradesh government to develop 440 MW thermal power plant at Khajuraho, with an investment of about Rs20,000 crore.

The company however did not provide any source of funding.
VEL has already started to identify feasible land and other resources for the project, it said in a regulatory filing.

On Thursday, VEL declined 1.5% to Rs206 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.4% down at 20,589 points.

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