Reliance Energy [Get Quote] on Wednesday said that the company would get gas for its 3740 MW power project at Dadri, Uttar Pradesh, from the group company Reliance Industries [Get Quote] Limited, stating the project would be commissioned by 2008-09.

Making a series of announcements at its annual general meeting, Anil Ambani, REL Chairman, said the company would invest about Rs 48,000 crore to set up a 12,000 MW coal-based power plant in Orissa.

The company officials had made a presentation to the Orissa government recently.

• The Reliance ownership issue: Coverage

Stating that REL was having a cash balance of over Rs 6,000 crore with no debts, Ambani said the company was also examining the feasibility of a 4,000 MW project to be set up in Maharashtra.

Besides, the company has entered into a joint venture with Power Grid Corporation for setting up transmission line for the 600 MW hydro power project in Himachal Pradesh.

Reliance Energy has applied for seven projects for strengthening transmission lines in the western region, Ambani said, adding the company was also examining another transmission project worth Rs 2,500 crore (Rs 25 billion) in the northern region.

Reliance Energy has also bagged 280 MW hydro project in Uttaranchal and was pursuing wind power project totaling 500 MW, Ambani said.

He announced that the company had recorded a 300 per cent jump in turnkey orders standing at Rs 3,500 crore (Rs 35 billion).

Favouring public-private partnership in the nuclear power sector, Ambani said an integrated power policy framework was the need of the hour for future growth in the sector.

REL to set up 12,000 MW power plant in Orissa

Reliance Energy Ltd on Wednesday announced plans to set up a 12,000 MW power plant in Orissa with an investment of Rs 48,000 crore (Rs 480 billion).

"REL has initiated steps to set up a ultra-mega 12,000 MW power plant at an investment of Rs 48,000 crore," REL Chairman Anil Ambani said at the annual general meeting of the company in Mumbai.

It would be the world's largest pit-head power plant at a single location.