Following is  from a report in livemint.

Around 300 people would get directly absorbed in the proposed 2,000 mw thermal power plant in Orissa’s Angul district that is likely to be completed by 2014 at an investment of Rs8,000 crore, an official said Friday.

The project would be developed by the newly-formed Orissa Thermal Power Corp. Ltd (OTPCL), a joint venture of the state-owned Orissa Mining Corp. (OMC) and Orissa Hydro Power Corp. (OHPC), an official said Friday.

“Both OMC and OHPC will have equal share in equity for the Rs8,000 crore project,” said state energy minister S.N. Patro. Seventy percent of the funds would be met through loans, he said.

Both OMC and OHPC will provide Rs1,200 crore each to start the project making it the second state-owned thermal power unit.

The first thermal power plant at Ib valley was being operated in a joint venture between the Orissa Power Generation Corp. (OPGC) and the US-based Aes Powers.

Patro said the government had already identified land and “the water requirement of the proposed thermal power plant will be met by the reservoir at Rengali”, the exact location where the plant would come up in Angul.

The coal blocks posessed by OMC and OHPC would be utilised in the thermal power project, the minister added.

Business Standard reports the location to be near Rengali dam. Following are some excerpts.

The Orissa Thermal Power Corporation Ltd. (OTPCL), a joint venture between the state owned Orissa Mining Corporation (OMC) and the Orissa Hydro Power Corporation (OHPC), has decided to set up a 2000 Mw thermal power plant at Rengali in Angul district.

Estimated Rs 8000 crore is proposed to be invested in the project and it is likely to be commissioned by 2014.While OTPCL will have a 30 percent equity in this project and the remaining 70 percent will be mobilised as loans. This was decided at a high level meeting chaired by the state energy minister Surya Narayan Patro here today.

OHPC and OMC had started a joint survey for selecting a suitable location for the project since July 2008. Finally, Rengali in the Angul district was found suitable as 1000 acres of government land was available there. Besdies, the area is scarcely populated.