corporate power ltd. - dsc

Corporate Power Ltd. (CPL)Rupee Term Loan to CPL , a company promoted by Abhijeet group for setting up Phase II of 540 MW (2 X 270 MW) coal based at Chandwa in Latehar District, Jharkhand, India.

DSC Meeting Objectives

• To recommend for proceeding with detailed due diligence for providing a term loan assistance

Issues for Discussion• Terms & conditions

ContractCash FlowCreditCollateral

U/W Category Product Type Customer Industry

DebtEquityLeaseOther

PowerCommercial & Industrial

TelecomTransport

BD Contact: Srinivas Karra

Sourcing: BD effort

Date of DSC : December 2010

Group Details Abhijeet Group, promoted by Mr. Manoj Kumar Jayaswal, is a diversified group with presence in power, mining,

steel, roads and ferro alloys.

Mr. Manoj Jayaswal is supported by his 2 sons Mr. Abhishek Jayaswal and Mr. Abhijeet Jayaswal.

The key operating companies of the Group are

Abhijeet Projects Ltd. (APL) – EPC for the power plants/steel plants

Corporate Ispat Alloys Limited (CIAL)- 58,350 tpa of Ferro alloy, 1 lakh tonne p.a. of processing iron from scrap and 25 MW power plant

Jas Toll Road Company Ltd. (JAS) - 32.5 Km, 4 lane BOT toll project, near Bengaluru, Karnataka

Abhijeet Infrastructure Limited (AIL) - 1 lakh tonne p.a. of processing iron from scrap (slag from SAIL’s Bhilai plant )

Jayaswals Ashoka Infrastructure Pvt. Ltd. (JAIPL) - 14 Km, 4 lane Bridge on River Wainganga, Bhandara, Maharashtra

Financial: 31-03-2010: Group Revenues: Rs.1,006 crore, EBITDA: Rs. 188 crore (19%), PAT : Rs. 62 crore (6%) , Networth: Rs.1,663crore, Debt Rs.473 crore (D:E – 0.3:1).

Particulars APL CIAL JAS AIL JAIPL TotalRevenue 572 332 40 41 211,006 EBITDA 28 93 34 14 19 188 EBITDA Margin 5% 28% 85% 34% 90% 19%PAT 11 28 5 7 11 62 PAT Margin 2% 8% 12% 17% 52% 6%Debt 36 229 152 13 43 473Networth 31 1,394* 85 122 31 1,663Debt: Networth 1.2 0.2 1.8 0.1 1.4 0.3

Rs. Crore

* Valuation of the CIAL allotted mine was done thereby increasing the Networth by Rs.917 crore. The exclusion of this reserve would lead to a leverage of 0.6 for CIAL and for the group at 0.6:1.

Group Details IDFCs exposure to the group (as on October 31, 2010) is as follows:

Name of the company Existing

Total Exposure as a % of Net Owned

FundsUnd.

ApprovalExposure

LimitJas Toll Road Company Ltd 190* 1.88% 150 20%Jayaswals Ashoka Infrastructure P Ltd 40 0.39% - 20%Abhijeet Group 230 2.27% 150 35%* Rs.40 crore to be cancelled

IDFC Project Equity has invested Rs.70 crore (36% stake) in Jas Toll Road Co. Ltd., SPV for operating and maintaining the 32.5 km stretch on NH-4 between Nelmangala and Tumkur in the state of Karnataka on BOT basis for 19 years concession by NHAI.

Rs. Crore

Abhijeet Ventures Limited

CIAL

AIL

AFL

A Hazaribagh TRL

JAIPL

JAS

26%26%

51%51%

CPL

AMNEPL

Abhijeet Power Limited

49%49%

74%74%

90%90%

APL (EPC Business)

JIPL

100%100%

92%92%

EEMF

10%10%

AML

Manoj Jayaswal & Family and Investment Co’s

100%100%

51%51%

51%51%

100% 100%

74%74% Kaizen

26%26%

26%26%

51%51%

49%49%

24%24%

74%74%

Group Structure

Energy

Highways

1080 MW Coal based power plant near Ranchi, Jharkhand - CPL

271 MW Coal based power plant, near Nagpur, Maharashtra - AMNEPL

1320 MW Coal Based power plant near Banka, Bihar - JIPL

10 MW Bio mass project at Durgapur, West Bengal – under CIAL

41 Km, 4 lane Barhi Hazaribagh, Jharkhand - A Hazaribagh TRL

14 Km, 4 lane Bridge on River Wainganga, Bhandara, Maharashtra – operational – JAIPL

32.5 Km, 4 lane BOT toll project, near Bengaluru, Karnataka – operational - JAS

176 Million Tonnes, Chitarpur Coal block, Jharkhand – CIAL mine for CPL (Phase I)

220 Million Tonnes, Coal Block, Mahuagarhi, Jharkhand – JIPL – 1320 MW

78 Million Tonnes Block Brinda, Sisai & Meral, Jharkhand, CIAL and AIL for captive power plant

126 Million Tonnes Coal block, Bander, Maharashtra

15 Million Tonnes, Iron Ore Mine, Fuser, Maharashtra

Mining

2681 MW2681 MW

350 Lane Km350 Lane Km

615 MnT615 MnT

Ferro Alloy

Steel

60,000 Tonnes/yr Ferro Alloy plant, Durgapur, West Bengal, with 25 MW power plant – operational - CIAL

2,80,000 Tonnes/yr Ferro Alloy plant near Vizag., AP & 300 MW captive plant :AFL and Kaizen PL

0.4 mtpa, DRI plant at Saraikela, Ranchi, Jharkhand, with 40 MW Power plant – under CIAL

0.4 mtpa, DRI plant at Saraikela, Ranchi, Jharkhand, with 60 MW Power plant – under AIL

1.2 mtpa , beneficiation and pellet plant at Saraikela, Jharkhand - Jaggannath SL

3.4 Lk Tn/p.a3.4 Lk Tn/p.a

1.2 MTPA B&P0.8 MTPA DRI

1.2 MTPA B&P0.8 MTPA DRI

Group Overview

Name of SPV ProjectExpected COD

Project Cost

Debt EquityEquity Infused

Balance

Status of Debt tie-up

AMNEPL 271 MW in NagpurApril/May

111,382 1,106 204 204 - FC achieved

CPL (Phase I) 540 MW in Jharkhand April 13 2,900 2,175 725 374 351 FC achieved

CPL (Phase II) 540 MW in Jharkhand April 14 3,180 2,385 795 233 562SBI underwritten entire debt. Syndication in process

JIPL 1320 MW in Bihar Mar 15 7,400 5,920 1,480 121 1,359Underwritten by Axis, PNB and UCO Bank

Kaizen PL 300 MW in Vizag, AP May 13 1,644 1,315 329 120 209Uco is lead, syndication under progress.

CIAL10 MW Bio Mass, Durgapur, WB

Mar 11 52 39 13 10 3FC achieved (IOB is Lead Bank)

A Hazaribagh TRL

41 kms Barhi to Hazaribagh, Jharkhand

May13 314 239 75 28 47In principally Underwritten by SBI

Jaggannath SL1.2 MTPA pillet plant in Jharkhand

May 13 575 383 192 37 155FC expected by Dec 10. IDBI is Lead Bank and Syndicator.

CIAL - Mine project

174 mt in Jharkhand April 12 470 329 141 87 54 FC achieved

CIAL - Steel Plant

0.4 MTPA DRI plant & 40 MW power plant at Saraikela, Jharkhand

April 12 511 341 170 72 98 FC achieved

AFL2.8 lkh tonnes/pa ferro alloy plant at Vizag, AP

April 12 555 370 185 125 60 FC achieved

AIL0.4 MTPA DRI Plant, 60 MW at Jharkhand

May13 848 566 283 86 197Entire debt underwritten by SBI, syndication under progress

Total 19,831 15,169 4,592 1,498 3,094

Equity Requirement of Abhijeet Group Rs. Crs

Consolidated Cashflows 2011 2012 2013 2014 PAT 218 470 780 1,185 Add : Depreciation 42 79 272 387 Add : Others- Deferred Tax+ Securitisation 83 - 106 135 Less: Principal Payment 24 95 199 494 Net Excess Cash (A) 319 454 959 1,212 Investment Companies-AFL 9 51 - - PE for power vertical Ent. Emerging Market Fund 100 135 - - Inflows from Other Investments(B) 109 186 - - Total Inflows (A+B) 428 640 959 1,212

Equity RequiredYearwise Equity Requirement (Bal.) 2011 2012 2013 2014 TotalCorporate Power Limited (Phase I) (540 MW) - 119 232 - 351 Jas Infrastructure & Power Ltd – JIPL (1320 MW) 210 262 56 831 1,359 CIAL - 10 MW Bio Mass 3 - - - 3 CIAL Mine 36 18 - - 54 CIAL Steel Plant 30 68 - - 98 Abhijeet Ferro Tech 9 51 - - 60 AIL 30 102 65 - 197 Kaizen Power Ltd (300MW) - 57 152 - 209 Abhijeet Hazaribagh Road - 12 35 - 47 Corporate Power Limited (Phase II) (540 MW) 286 276 562 JSL 52 71 32 - 155 Total Equity Requirement 369 760 858 1107 3,094 Flows after IPO 2011 2012 2013 2014 Inflow after meeting equity requirment w/o CPL-II 59 (120) 101 105 Inflow with IPO Proceeds/ Private Equity 1,500 1,559 1,439 1,540 59 (120) 101 105 1,559 1,439 1,540 1,646 ** DRHP to be filed by 20th December 2010 and IPO is planned by Ist Qtr of 2011

Equity fulfillment for the projectsRs. Crs

Project Details

Background of the Project

Corporate Power Limited (CPL) is a SPV promoted by Abhijeet Group for setting up coal based power project in the state of Jharkhand.

CIAL holds 51% and Abhijeet Power Ltd. holds 49% of the shares of CPL.

CPL executed an MoU in Oct ’07 with Government of Jharkhand (GoJ) for setting up 1,215 MW power plant at Chandwa, Latehar, Jharkhand.

As per the MoU, GoJ will assist in obtaining land required for the project, permit drawl of required quantity of water, facilitate availability of necessary power network for construction purpose and evacuation purpose.

CPL envisages setting up of a coal based 1,080 MW thermal power plant (two phases of 540 MW each).

Phase I Status:

Financial Closure achieved in December 5, 2009 with REC as Lead Bank and SBI Cap as Lead Syndicator; disbursements have commenced.

Project cost Rs.2900 crore (Debt Rs.2175 crore, Equity Rs.725 crore i.e. 75:25 ratio).

Total expenditure as on October 31, 2010 is Rs.1,142 crore financed by Rs.374 crore as equity and Rs.768 crore.

All major statutory/non-statutory clearances received. 73% land is acquired and is in possession.

22% of project is completed as on October 31, 2010.

The project is scheduled to be commissioned in FY 2012-13 (Unit 1 – Sep 2012, Unit 2 – March 2013).

Consultants appointed are as follows : LE – Lahmeyer , LIC – Marsh India and LLC – S G Law.

Project Details – Phase II

Land : Total Requirement is 319 acres (all private land). Break up of utilization is:

Out of the 104 acres of land, critical power plant requires 43 acres. Till date, 50 acres is being acquired and is in possession of CPL.

A condition is stipulated that CPL would acquire atleast 50 acres of land and register the same in its name before first disbursement and prepared an acquisition plan for the balance land of 269 acres.

The balance land is to be acquired within 12 months of first disbursement.

In addition to above, ~50 acres will be required for the construction of railway sidings for transportation of coal.

Water: Requirement is estimated at ~2,200 m3/hr. Central Water Commission vide its letter dated September 11, 2008, has provided approval for drawing 5,000

m3/hr of water from river Damodar upstream from Panchet reservoir. This is sufficient for both the phases (1080 MW).

Use of Land Requirement

(in Acres)

Plant and Infrastructure area 104

Ash Dump 102

Storage water requirement and other facilities 113

Total 319

Capacity:

540 MW (2 x 270 MW) coal based power project.

Location:

Plant will be adjacent to Phase-I project site at Chandwa in Latehar District, Jharkhand, India. The project site is located on the NH 99. Ranchi Airport is 85 Km away from the Project site.

Project Details - Phase II EPC Contract:

CPL has appointed Abhijeet Projects Ltd. (APL) as an EPC contractor (fixed price) which in turn has awarded the BTG contract to BHEL for 2 units of 270 MW for Phase-II. BoP is expected to be awarded in lines of Phase I contractors (Civil Works – Simplex Infra. Ltd., Transmission Line – Emco Ltd., Switchyard – Areva etc.)

BTG contract - Guaranteed Unit heat rate - 2254 KCal/kWh; Auxillary Consumption – 9%

Schedule of Implementation :

1st Unit of 270 MW – January 2014 (39 months from NTP) 2nd Unit of 270 MW -April 2014 (42 months from NTP). NTP assumed at October 1, 2010. Due to delay of FC the NTP to extend further.

Fuel:

Coal required is estimated at 1.92 MTPA (GCV: 4707 Kcal/Kg, Station Heat Rate: 2254 Kcal/Kwh , PLF : 85%)

The Ministry of Coal, Govt. of India, has awarded coal linkage for the Phase-II Project of CPL in the Standing Linkage Committee meeting held on January 29, 2010.

Coal is likely to be supplied from Central Coalfields Limited mines.(from North Karanpura/ Ramgarh Coalfields situated at Ranchi/Ramgarh/Chatra Districts {70 Kms from the plant}). Road-Rail combination will be used for transportation of fuel.

Coal cost assumed at Rs990/tonne for FY2010 and escalated at 4% thereafter, coal transport cost – Rs.140/tonne escalated at 4% thereafter

Clearances

Environmental clearance from MoEF is received on 11th November 2010. {obtained TOR clearance in May 2010 for the Phase-II and has already obtained environmental clearance for Phase-I}.

Project Details – Project II Offtake:

As per the MOU, GoJ has first right of refusal (ROFR) for 25% of the power generated from 1080 MW (combined Phase-I & II) at regulated tariff i.e. ROFR for 270 MW.

CPL has taken the permission from GoJ to supply the power to GoJ from the Phase-II only.

Accordingly, 270 MW of power from Phase-II project (i.e. 50% of the capacity) is to be sold to GoJ at CERC Tariff (25 years Levelized tariff as Rs. 3.08 p.u.)

For the balance 50% of the power, 28% (150 MW) is proposed to be sold on Long Term PPA basis @ Levelized tariff of Rs. 2.463 p.u. (The

tariff has been assumed in line with the tariff offered by Lanco Power Trading Ltd. in the Phase-I project). (Rs.3.50 per unit till Mar 2015, Rs.3 per unit till Mar 2021, Rs.2.60 per unit till Mar 2027, Rs.2 thereafter)

22% (120 MW) is proposed to be sold on long term/ medium term/short-term basis. The merchant tariff is assumed as below:

From April 1, 2014 to March 31, 2018: Rs. 3.50 p.u.April 1, 2018 onwards: Rs. 3.00 p.u.

Evacuation of Power:

CPL has executed Bulk Power Transmission Agreement in Feb 2010 with PGCIL for the construction of Common Power Pooling Station along with Essar Power for providing the power evacuation facility.

The pooling station is proposed in the radius of 15 – 20 Km of the plant.

O&M : In –house

Rs./kwh 1st year of operation 25 years levelized

Cost of generation 2.94 3.08

Fixed charge 1.52 1.52

Variable Charge 0.90 1.14

RoE 0.42 0.42

Project Cost & Means of Finance – Phase II

Rs. Crs.Particulars Rupee Cost

Land & site development 76BTG 1,294BOP (including civil works) 693Power Evacuation Arrangement 95Coal Transportation Arrangement 90Water Arrangement 90Colony 12Taxes & Duties 268Total Hard Cost 2,618Pre-Operative Exps 49IDC 389Financing Charges 37Contingency 57Margin money for WC 32Total Soft Cost 564Total Project Cost 3,182Means of finance

Equity (25%) 795

Debt (75%) 2,387Total 3,182

Project costs on a per MW basis is Rs.5.89 crore/MW.

CPL intends to avail Mega Power benefits which would bring down the project cost to Rs. 5.39 crore / MW.

Further if we reduce power evacuation, coal transportation and water arrangement cost, the project cost would be reduced to Rs.4.89 crore/ MW.

Power Evacuation cost comprise of the following:The common pool of PGCIL is 20 kms away from the site. An amount of Rs.55 crore is estimated for the line.In addition, to facilitate evacuation to GoJ (JSEB), CPL will have to construct 2 400 kV bays and 2 interconnecting transformers estimated at a cost of Rs. 40 crore.

EQUITY: The equity is to be brought in by the Promoters/ Strategic Investor(s)/Securitization of group’s operating Road and Power projects’ cash-flows.

DEBT: SBI has underwritten entire debt and would take and hold Rs.600 crore. The status of the syndication is as follows:

.

Till October 2010, CPL has spend Rs.568 crore of which SBI has disbursed Rs.337 crore and Rs.231 crore is brought in as equity

S/No. Bank/FIAmount

(Rs. Crs.)Sanction Status

1 SBI - hold portion 600 Received final sanction.

2 LIC of India 150 Received in-principal sanction. Final sanction expected by end of Dec’10.

3 Punjab National Bank 200In-principally sanctioned for Rs. 200 Crs. Final sanction in first week of Jan ‘11.

4 Indian Bank 50Communication regarding in-principle sanction received. Catching next EC meeting in Jan ‘ 11.

5 Andhra Bank 100Targeted for final sanction in December EC meeting scheduled in end of Dec’10.

6State Bank of Bikaner & Jaipur

100 Sanctioned. Sanction letter awaited.

7 State Bank of Hyderabad 75 Proposal is scheduled in January’ 11.

8 State Bank of Patiala 75Proposal is listed in the next HoCC meeting scheduled in end of December and subsequently will catch EC meeting scheduled in January 2011.

9 Allahabad Bank 200 To be placed at next MC Meeting to be held in January 2011.

10 REC 500 Sanction expected by end of January 2011

11 United Bank of India 100 Proposal is expected to catch next EC meeting scheduled in January.

Total 2150Total Debt Requirement 2387

Besides, proposals have been recently submitted to Indian Overseas Bank, South Indian Bank and IIFCL.

Syndication Status

Transaction Structure

Terms and conditions•Amount : TBD

•Interest Rate : 11.50% (to be linked to IDFC BM). Presently 3 year BM is 9.03% thus effective spread is 2.47%

•Reset : Reset on COD of the project and every year thereafter.

•Upfront Fees :0.20%

•Tenor : 14.75 years{3.5 years construction period, 0.5 years of moratorium period and 10.75 years structured repayment : 40 quarterly installments of 1.875% each (75%) Balance 25% by

way of a bullet repayment a end of 10 years.}

•Security : (1) First charge on all the fixed (moveable and immovable) assets. Land for 50 acres before first disbursement and for balance land of 269 acres within 12 months of first disbursement.

: (2) Assignment of Project Documents, Contracts, Approvals and Licenses and Insurance: (3) Trust & Retention Account: (4) Pledge of 51% of Shares of the Company to be brought down to 33% on repayment of 50% of the loan, 26% after repayment of 75% of the loan.

Security to be pari-passu with the Working Capital (fund based as well as non fund based to the extent of Rs. 150 Crore) Lenders for Phase II, Term Lenders for the preceding Phase-I and Working Capital Lenders for the preceding Phase-I project on reciprocal basis


Deal RationalePast Experience with IDFC has been satisfactory

Key Issues

1.Company would be dependent on IPO for meeting its equity requirements. Dependence on cashflows from projects getting commissioned in future, for meeting equity requirements for new projects may result in mismatch.

2.Jharkhand SEB risk3.Projects under execution are of large capacity and execution delay can impact group cashflows.

Recommendation

1. Group has been discussing about IDFC participation in the past and are keen to make a presentation on Group plans.

2. IDFC may proceed on due diligence on loan assistance subsequently.

Project Site

Location Map

Operational Details 2007 2008 2009Total MW installed 900 900 900Total generation (MU) 823 913 1340Total Power Purchase (MU) 6255 6666 7004Aux. consumption (MU) 457 492 475Total Energy Input (MU) 6621 7087 7869Total Energy Sold (MU) 3832 4273 4650T&D Loss (%) 42.1% 39.7% 40.9%Energy realised (MU) 3018 2965 3226AT & C Loss (%) 54.4% 58.2% 59.0%

Rs. CroreFinancial Details 2007 2008 2009Sale of power 1,215 1,391 1,486 Total income 1,754 1,729 1,813 Power purchase 1,354 1,614 1,915 Generation cost 101 209 162 Employee cost 211 241 260 O&M 47 58 54 Interest 494 503 548 Depreciation 93 308 147 Admin 23 31 47 Total exps 2,323 2,964 3,133 Profit without subsidy (569) (1,235) (1,320)Subsidy booked 210 209 1,080PAT after subsidy (359) (1,026) (240)Subsidy actually recd 210 77 80 Profit on subsidy recd basis (359) (1,158) (1,240)

As per PFC report 2007 2008 2009

Average cost of supply 3.35 3.99

3.84

Average revenue (w/out subsidy) 2.53 2.33

2.22 Gap (w/out subsidy) (0.82) (1.66) (1.62)Gap (with subsidy) (0.52) (1.38) (0.29)

Jharkhand financials

Source : PFC report on performance of state utilities

Project SPVsEssar Power

HaziraIEL Wardha CPL

Capacity 270 MW 240 MW 270 MW 540 MWFuel Coal Coal Coal CoalConfiguration 2X135 2X120 2X135 2X270

SupplierEssar

ConstructionsBHEL,

Alstom, TCE BHEL

BTG Technology Sub-critical Sub-critical Sub-critical Sub-criticalType EPC Package EPC PackageProject Cost (Rs.Crore) Total Project Cost 1,433 1,155 1,308 3,182 Debt-Equity Ratio 3.00:1 2.33:1 3.00:1Senior Debt 1,075 809 0 2,387 Equity 358 347 0 796 Interest Rate 11.25% p.a. 11.50% p.a.Rs.Cr./ MW Land & Site Development 0.07 0.08 0.02 0.16BTG, BoP, Civil Works, etc. 4.17 3.97 4.22 3.68Preliminary & Pre-operative Exp. 0.19 0.29 0.20 0.09Contingency 0.21 0.11 0.00 0.11Interest during construction 0.62 0.30 0.36 0.79Margin Money for Wkg. Capital 0.04 0.05 0.05 0.06Sub-total 5.31 4.81 4.84 4.89Taxes and Duties 0.00 0.00 0.00 0.50Transmission, Mine and Railway 0.00 0.00 0.00 0.51Total Project Cost 5.31 4.81 4.84 5.89

Project Cost comparison

Project Name and Location

Proposed capacity in MW

Fuel Source & Supply Off-taker Expected COD

Status

AMNEPL

Maharashtra

4 x 61.5 MW with 25 MW DG Set

Coal Linkage from Western Coal Fields

PPA with MADC for 33 years

PPA for excess capacity available with Rel Infra Lts. for 55 MW at Lvl Tariff – Rs. 4.8 for 4 yrs.

April 2011 FC achieved : Axis Bank as Lead Arranger.

CPL – I

Jharkhand

2 x 270 MW Chitarpur Captive Coal Block - 1 Km from Project Site

PPA with Lanco Trading for 25 years

Co has participated in competitive bidding expected to sign PPA over Rs. 4 per Kwh.

April 2013 FC achieved : REC as Lead Bank and SBI Cap as Lead Syndicator.

CPL – II

Jharkhand

2 x 270 MW Coal Linkage from CCL -about 70 Km from site.

50% power to be sold to JSEB at CERC rate

Balance on merchant basis or short term PPAs.

April 2014 SBI has underwritten the entire debt of the project on 6th October 2010, syndication in progress

JIPL

Bihar

2 x 660 MW Mahuagiri Captive Coal Block allocated to the Group along with CESC

25% of the power to be sold to BSEB

45% to be sold through Case –I Bidding

Balance to be sold on merchant.

Mar 2015 Underwritten ie Axis Bank - Rs. 4440 Crs, PNB- Rs. 1480 Crs and UCO Bank - Rs. 1480 Crs.

Group’s Power Plant Details

Financial Projection of the Group (Rs. Crore) 2010 2011 2012 2013 2014

Existing Projects - Revenues Abhijeet Projects Limited 572 2,092 3,843 3,399 3,119 CIAL Ferro Alloy Plant 332 256 329 412 425 CIAL 25 MW Power Plant 73 73 73 73 Jas Toll Road 40 29 33 38 42 AIL Steel Plant 41 55 55 55 55 Jayaswal Ashoka Toll Road 21 7 7 8 8 Total Existing Projects 1,006 2,512 4,341 3,985 3,723 New Projects - Revenues AMNEPL 175 525 505 489 CPL - Phase I - - 513 1,236 AFL - 317 1,273 1,432 JSL - - 235 403 Kaizen Power Ltd - - 77 620 DRI- CIAL - - 406 472 DRI- AIL - - 430 516 AIL-Mine - - 288 308 Total New Projects 175 842 3,727 5,477 Existing Projects - EBITDA Abhijeet projects Limited 28 138 302 198 222 CIAL Ferro Alloy Plant 93 48 76 106 105 CIAL 25 MW Power Plant 56 57 56 56 Jas Toll Road 34 25 30 34 39 AIL Steel Plant 19 10 10 10 10 Jayaswal Ashoka Toll Road 14 6 5 6 6 Total Existing Projects 188 283 480 410 438 New Projects - EBITDA AMNEPL 120 357 336 317 CPL - Phase I - - 381 905 AFL - 52 222 251 JSL - - 111 194 Kaizen Power Ltd - - 37 294 DRI- CIAL - - 144 159 DRI- AIL - - 168 221 AIL-Mine - - 78 93 Total New Projects 120 409 1,477 2,433

2010 2011 2012 2013 2014

Existing Projects - PAT

Abhijeet projects Limited 11 77 174 104 133

CIAL Ferro Alloy Plant 28 31 50 70 70

CIAL 25 MW Power Plant 41 43 45 46

Jas Toll Road 5 2 4 7 11

AIL Steel Plant 7 5 5 5 5

Jayaswal Ashoka Toll Road 11 4 3 4 4

Total Existing Projects 62 160 279 234 269

New Projects - PAT

AMNEPL 58 168 158 149

CPL - Phase I - - 167 358

AFL - 23 113 133

JSL - - 11 61

Kaizen Power Ltd - - 1 58

DRI- CIAL - - 56 60

DRI- AIL - - 41 79

AIL-Mine - - 1 19

Total New Projects - 58 191 546 916 PAT 62 218 470 780 1,185

Status of the Coal Block – CPL – Phase I

Approvals/ConsentStatutory/Non-Statutory Body/Agency

Current Status

Project Site Clearance MoEFObtained for 2 MTPA for mining lease area. Process initiated for further enhancement up to 3.45 MTPA.

Coal Mine Land Acquisition CCL/State GovernmentLand has already been acquired by CCL and the Conveyance deed has been executed in the favor of CIAL.

Approval of Mining plan MoC

Obtained for 2 MTPA, Process Initiated for further enhancement up to 3.45 MTPA

Air & Water Pollution Clearance for mining

JSPCB

Environmental Clearances MoEF

Grant of Mining Lease Govt. of IndiaPrior Approval of Central Government for grant of mining Lease has been accorded to the state government.

Total Project Cost of the mine is Rs.470 crore and financial closure of the same has been achieved

No. Particulars

Total Land Req. for 3.45

MTPA Mining project

Land already acquired Acquisition plan

1 Land within ML Area for Mining & OB Dumping Dec 2010 Dec 2011 Mar 2012

Forest 457.12 - - 457.12 -Non-Forest 365.56 142.00 68.94 32.43 122.19Subtotal 822.68 142.00 68.94 489.55 122.19

2 Land outside ML Area for OB Dumping Forest Land - - - - -Non-Forest 353.73 52.85 113.9 99.03 87.94Subtotal 353.73 52.85 113.9 99.03 87.94

3 Land outside ML Area for Infrastructure Forest Land - - - - -Non-ForestCHP 44.00

47.52 33.05- -

Coal Washery 16.57 - -Other Infra. 20.00 - -Colony 35.00 35.00 - - -Subtotal 115.57 82.52 33.05 - -

4 Total 1291.98 277.37 215.9 588.58 210.13Compensatory Afforestation 457.12 457.12 - - -

5 Total 1749.10 734.49 215.9 588.58 210.13

Coal Block – Land Details

corporate power ltd. - dsc

Documents

debt equity

final sanction

coal linkage

processing

btg contract

river wainganga

project cost

mine total