Maharashtra State Mining Corp. (MSMC) in 51:49 JV with a private company is planning to set up a 540MW coal-based power project at Nagbhid block in Chandrapur district. The project will entail an investment of INR 3000 crore. The project has been given in principal approval from the state government and hence the tenders inviting proposal for partnership from private parties have been floated, which will be opened by 14th March 2008. MSMC will provide coal, land and other government related facilities, while the private partner will look into the investment. The power plant to be spread over 500 acres of land will start work as soon as the company is finalized and is scheduled for completion within 2 years.