Mahanadi Coalfields Ltd to set up Rs 12,000 cr power plant in Odisha
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Mahanadi Coalfields Ltd To Set Up Rs 12,000 Cr Power Plant In Odisha
Mahanadi Coalfields Limited (MCL), a subsidiary of Coal India Limited, is looking to diversify into power generation, and plans to set up a Rs 12,000 crore power plant in Odisha
Topics
Mahanadi Coalfields | power plant in Odisha | Power plant
Mahanadi Coalfields Limited (MCL), a subsidiary of Coal India Limited, is looking to diversify into power generation, and plans to set up a Rs 12,000 crore power plant in Odisha.
It also aims to enter into aluminium business and may soon set up a greenfield aluminium project.
Sources informed that the 1,600 megawatt capacity coal-fired power project would come up in Odisha's Sundargarh district as a wholly owned subsidiary of MCL.
MCL also plans to enter into the aluminium business, they further said.
The mini ratna company is currently looking to secure a bauxite mine for the purpose.
Coal India's board in October 2021 had approved a pre-feasibility report for setting up an integrated aluminium project in Odisha.
Earlier, the coal behemoth in December 2020 had got in-principle approval for venturing into aluminium and solar sectors and creation of special purpose vehicles.
Coal India in a regulatory filing in October 2021 had said that the proposed aluminium project would include bauxite mining, alumina refinery, aluminium smelter and an associated captive power plant by its wholly owned subsidiary MCL.
--IANS
ans/shb/
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Mon, January 23 2023. 12:01 IST
RECENT NEWS
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more
JPMorgan And Small Caps Lead Market Rally: A Sign Of Economic Optimism
In a week marked by strong financial performance, JPMorgan Chase & Co. reported a 25% rise in profits, and US small-... Read more
Big Banks Vs. Regional Banks: The Battle For Market Share
The financial industry is a competitive landscape where big banks and regional banks vie for market share. Each type of ... Read more
The Evolution Of Philanthropic Advisory Services In Private Banks
The landscape of philanthropic advisory services provided by private banks has undergone a significant transformation. T... Read more