Mahanadi Coalfields Limited (MCL) is looking to diversify into power generation and plans to set up a Rs 12,000 crore power plant in Odisha. According to reports, the CIL subsidiary also aims to enter the 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.
Coal India’s board in October 2021 approved a pre-feasibility report for setting up an integrated aluminium project in Odisha. Earlier, the coal behemoth in December 2020 got in-principle approval for venturing into aluminium and solar sectors and creating special-purpose vehicles.
Coal India in a regulatory filing in October 2021 had said that the proposed aluminium project would include bauxite mining, an alumina refinery, an aluminium smelter and an associated captive power plant by its wholly owned subsidiary MCL.
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