New Delhi, July 27 - The Reliance Anil Dhirubhai Ambani Group has tied up finances for its 300 MW power plant at Butibori in Mahrashtra and expects the project to be operational by 2011-12, it said in a statement Monday.

Announcing the financial closure with Axis Bank as the lead institution, the group said that the project would meet the power requirements of Butibori, Hingna and other industrial areas in Maharashtra.

'The project involves setting up of its own transmission and distribution network in the nearby industrial areas, thereby ensuring supply of uninterrupted and quality power,' the statement said.

The coal for the project will be sourced from Western Coalfields Ltd, it added.