New Delhi: Mahanadi Coalfields Limited (MCL), a subsidiary of Coal India Limited, is looking to diversify into power generation soon, sources said here Monday. They added that MCL is planning to set up a Rs 12,000 crore power plant in Sundargarh district of Odisha. Sources informed that the 1,600 megawatt capacity coal-fired power project would come up as a wholly owned subsidiary of MCL.
The sources also stated that MCL is also thinking about entering into aluminium business and may soon set up a Greenfield aluminium project. However, the place where the aluminium plant will come up is yet to be identified by the top management of MCL.
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, MCL in December 2020 had got the 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.