Visa group will invest Rs 4,500 crore (Rs 45 billion) for setting up a 1000-MW mega thermal power plant in Orissa and also engage in all-India power trading, diversifying from steel.
Besides setting up the 4x250 MW power plant, supposed to be operational in phases from 2010, the company planned to get into third party power trading by the next quarter.
Later it will sell the power generated on its own, Visa Power Limited (VPL) Managing Director Vikas Agarwal told PTI.
"We hope to get trading license from the Central Electricity Regulatory Commission by this month. The first transaction of trading of power is expected to be executed by August," he