A Rs 12,000 crore power plant is being planned for construction in Odisha by Mahanadi Coalfields Limited (MCL), a Coal India Limited subsidiary intending to grow into the power generation industry. Additionally, it intends to start an aluminium company and may do so shortly.
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.
The coal giant had already received in-principle approval in December 2020 for foraying into the aluminium and solar sectors and developing special purpose vehicles. The proposed aluminium project, according to Coal India, would involve bauxite mining, an alumina refinery, an aluminium smelter, and an associated captive power plant by its wholly owned subsidiary MCL, according to a regulatory filing made in October 2021.