The CCEA chaired by Prime Minister Narendra Modi approved equity investment for 2×800 MW Supercritical Thermal Power Plant in Sundergarh district through ‘Mahanadi Basin Power Ltd’ (MBPL), a wholly owned subsidiary of MCL, an official release said.

The CCEA also approved proposal for equity investment by South Eastern Coalfields Limited (SECL) for setting-up 1×660 MW Thermal Power Plant through JV of SECL and MPPGCL.
The CCEA has approved the proposal of equity investments by SECL, MCL and CIL as follows:

(a) Equity Capital of Rs.823 Crore (± 20%) by SECL considering a Debt-Equity Ratio of 70:30 and 49% Equity Investment in JV Company with an estimated Project Capex of Rs.5,600 Crore (accuracy of ±20%) for the proposed 1×660 MW Supercritical Thermal Power Plant through JV of SECL and MPPGCL at Amarkantak Thermal Power Station in Village Chachai, Anuppur District, Madhya Pradesh.

(b) Equity Capital of Rs.4,784 Crore (± 20%) by MCL for the proposed 2×800 MW Super-Critical Thermal Power Plant in Sundargarh District, Odisha with an estimated Project Capex of Rs.15,947 Crore (accuracy of ±20%) through MBPL.

(c) Approval to MBPL, an SPV of MCL to set up the 2×800 MW Super-Critical Thermal Power Plant.

(d) Equity Investment by CIL beyond 30% of its net worth in the JV of SECL-MPPGCL (Rs.823 Crore ± 20%) as at (a) above, and in MBPL, a 100% wholly owned subsidiary of MCL (Rs.4,784 Crore ± 20%) as at point (b) above.

Coal India Limited (CIL), the largest coal mining company in the world, will set up following two Pithead Thermal Power Plants, through its subsidiaries, with a view to provide cheaper power to the country –

1. 1×660 MW Supercritical Coal-Based Thermal Power Plant (TPP) at Amarkantak Thermal Power Station in Village Chachai, Anuppur District, Madhya Pradesh, through JV between SECL and Madhya Pradesh Power Generating Co Ltd (MPPGCL);
2. 2×800 MW Supercritical Thermal Power Plant, in Sundergarh District, Odisha, through ‘Mahanadi Basin Power Ltd’ (MBPL), a Wholly Owned Subsidiary of MCL.

Prasad, who was on his maiden visit to MCL after assuming charge as Chairman, toured Ib Valley Coalfields in Jharsuguda district on Sunday and chaired a review meeting of the company at the headquarters in the evening.

“MCL has performed exceptionally well in the past couple of years. Not only Coal India, but the entire country has high hopes on MCL,” he said, asserting that the leading subsidiary would successfully achieve its target of 204 MT production for the current fiscal.

JK Bohra, Director (Technical/Operations), AK Behura, Director (Finance) and AS Bapat, Director (Technical/Projects & Planning) were among senior officers present at the review meeting, while Area General Managers from Ib Valley coalfields and Talcher coalfields joined through video-conference.

Prasad, who inspected coal mining and despatch operations as well as upcoming infrastructure projects in Ib Valley coalfields, emphasised on diversification initiatives like setting up of more solar power plants and achieving net-zero emission target.

Stressing on all out efforts to ensure that the country gets adequate quantity of coal, the Chairman advised MCL to work on feasibility of underground projects and making them viable sources of energy.

Earlier, Prasad chaired a meeting of the corporate Joint Consultative Committee (JCC) of MCL and visited an upcoming Ib Valley Coal washery in Lakhanpur area, the largest non-coking coal washery of 10 MTPA in Coal India.

He also inspected the under-construction Y-curve railway siding, which will help increase coal despatch from Samaleswari OCP of Ib Valley area.