The Union Cabinet on Thursday approved major investments by state-run Coal India in the thermal power sector. These includes the setting up of two thermal power plants by the coal miner with cumulative investments of around Rs 21,000 crore.
The break-up of the investments by Coal India subsidiaries are as follows: Rs 823 crore by South Eastern Coalfields Ltd for setting up a supercritical thermal power plant of 1×660 MW capacity in collaboration with Madhya Pradesh Power Generating Co Ltd.
Mahanadi Coalfields Ltd will set up athermal plant of 2×800 MW capacity through Mahanadi Basin Powe Ltd (MBPL – a subsidiary of MCL). The project cost of the Amarkantak thermal power station in Madhya Pradesh by SECL is estimated to be around Rs.5,600 crore.
MCL, on the other hand, will invest Rs 4,784 crore in its plant in Odisha of the total estimated project capex of Rs 15,947 crore. The Cabinet also sanctioned equity investments by CIL beyond 30% of it net worth in the joint venture of SECL-MPPGCL and MBPL.