A Memorandum of Understanding (MoU) was inked between Mr. Mannoj Kumar Jain, Group Chairman and Managing Director Jain Group of Industries and the Madhya Pradesh Government for the implementation of a 1000 MW thermal power project. Jain Energy Limited, one of the Group companies, will be executing the project which is likely to be commissioned in 2012.

This 1000 MW coal based power unit will be coming up at Shadol District of Madhya Pradesh and will be spread over 1000 acres of land. The estimated investment in this project will be to the tune of Rs. 5000 crores. Work on the project will commence from early 2009.

Speaking about the project Mr. Mannoj Kumar Jain said, “We are happy to announce our latest project in the power sector and we are thankful to the Government of Madhya Pradesh for the cooperation extended. Developing this project and commissioning it within the agreed time period will be our primary focus now. We have set a target of setting up 5,000 MW power plants all over India in the next 5 years.”

Jain Energy Limited is also setting up a 1000 MW coal based power plant in Chattisgarh. The plant would be set up at Balpur of Janjgir- Champa district. Additionally they are also in talks with Governments of Orissa, Jharkhand and West Bengal for setting up similar projects in these states. Jain Energy has also given Expression of Interest for Hydro Power projects in Arunachal Pradesh and Bhutan.

- End -

About Jain Group of Industries

Jain Group is a fast growing business conglomerate with Infrastructure as its core business and verticals like Jain Infraprojects [JIL] Jain Steel and Power [JSPL] Jain Energy [JEL] and Jain Realty [JRL]. Jain Infraprojects (JIL), the flagship venture of Jain Group commenced its operation in 2002, under the entrepreneurial initiative and guidance of the Group Chairman and Managing Director Mr. Manoj Kumar Jain, and is actively contributing towards transforming the Infrastructure scenario in India. The group strives for “Prominence through Excellence”, aims to be a dominant player in pan India perspectives. Jain Group of Industries has been successful in setting stretched goals for individual Strategic Business Units.