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Chennai, May 4 (PTI) Gemac Energy, which plans to set up a 1,320 MW thermal power station in Nagapattinam district of Tamil Nadu, has signed an MoU with Chinese construction major Sepco III for engineering, procurement and construction services to the project. Gemac Energy Chairman K Thiruppathi told reporters here last night that the Rs 6,000-crore project would be implemented in two phases. Sepco III would complete the first phase in three years and the entire project in five years. The project would also house a 10 MLD desalination plant, he said. The company had already acquired 4,000 acres of land for the project, he said. The promoters of the company would bring in Rs 1,500 crore as equity and the balance would raised as loan from banks, for which negotiations had already began. PTI SR APR.
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