Kaizn Power Ltd, a special purpose vehicle of Abhijeet group is setting up a 300 MW thermal power project in Visakhapatinam in Andhra Pradesh. The project cost is estimated at Rs. 16,440 million and is funded by debt: equity ratio of 4:1. The debt portion has been underwritten by UCO bank.
The company has awarded the BTG contract worth of Rs. 6300 million to BHEL in March 2012. The project is expected to go operational in April 2013.