NEW DELHI (Reuters) – State-owned NLC India plans to invest about 238 billion Indian rupees ($3.4 billion) in Tamil Nadu to set up mines and power projects, the company said on Saturday.

The company signed an agreement with Tamil Nadu’s government to set up mines to produce 15.5 million tonnes per year of lignite, a lignite-fired power plant with 2,640 megawatt (MW) capacity and a 1,000 megawatt solar project, it said in an exchange filing.

($1 = 70.8900 Indian rupees)