CCEA Greenlights Coal India's Rs 5,607 Crore Investments in Power Projects
Thursday, 18 January 2024, 17:11 IST
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has granted approval for equity investments totaling Rs 5,607 crore by state-owned South Eastern Coalfields and Mahanadi Coalfields. These funds will be utilized for the establishment of two thermal power projects, collectively generating 2,260 MW, as announced in an official statement following a CCEA meeting.
As per the official statement, South Eastern Coalfields Ltd (SECL) is slated to establish a 660 MW thermal power plant in collaboration with MPPGCL (Madhya Pradesh Power Generating Company Limited). In a similar vein, Mahanadi Coalfields Ltd (MCL) will be initiating the construction of a 2x800 MW thermal power plant through its subsidiary, Mahanadi Basin Power Ltd (MBPL).
There will be an equity capital of Rs 823 crore (plus or minus 20 percent) by SECL with an estimated project capex of Rs 5,600 crore (accuracy of plus or minus 20 percent) for the proposed 660 MW supercritical thermal power plant through JV of SECL and MPPGCL at Amarkantak Thermal Power Station in Madhya Pradesh.
The CCEA has also approved an investment of Rs 4,784 crore equity capital (plus or minus 20 percent) by MCL for the proposed 2×800 MW supercritical thermal power plant in Sundargarh District. Odisha, with an estimated project capex of Rs 15,947 crore (accuracy of plus or minus 20 percent) through MBPL. It has given approval to MBPL, an SPV of MCL to set up the 2×800 MW Super-Critical Thermal Power Plant.
Additionally, the Cabinet Committee on Economic Affairs (CCEA) has granted approval for Coal India Ltd (CIL) to make an equity investment exceeding 30 percent of its net worth in the SECL-MPPGCL joint venture (varying between Rs 823 crore plus or minus 20 percent) for the two projects. Recognized as the largest coal mining company globally, CIL will be overseeing the establishment of two pithead thermal power plants through its subsidiaries, aiming to deliver more cost-effective power solutions.
As per the official statement, South Eastern Coalfields Ltd (SECL) is slated to establish a 660 MW thermal power plant in collaboration with MPPGCL (Madhya Pradesh Power Generating Company Limited). In a similar vein, Mahanadi Coalfields Ltd (MCL) will be initiating the construction of a 2x800 MW thermal power plant through its subsidiary, Mahanadi Basin Power Ltd (MBPL).
There will be an equity capital of Rs 823 crore (plus or minus 20 percent) by SECL with an estimated project capex of Rs 5,600 crore (accuracy of plus or minus 20 percent) for the proposed 660 MW supercritical thermal power plant through JV of SECL and MPPGCL at Amarkantak Thermal Power Station in Madhya Pradesh.
The CCEA has also approved an investment of Rs 4,784 crore equity capital (plus or minus 20 percent) by MCL for the proposed 2×800 MW supercritical thermal power plant in Sundargarh District. Odisha, with an estimated project capex of Rs 15,947 crore (accuracy of plus or minus 20 percent) through MBPL. It has given approval to MBPL, an SPV of MCL to set up the 2×800 MW Super-Critical Thermal Power Plant.
Additionally, the Cabinet Committee on Economic Affairs (CCEA) has granted approval for Coal India Ltd (CIL) to make an equity investment exceeding 30 percent of its net worth in the SECL-MPPGCL joint venture (varying between Rs 823 crore plus or minus 20 percent) for the two projects. Recognized as the largest coal mining company globally, CIL will be overseeing the establishment of two pithead thermal power plants through its subsidiaries, aiming to deliver more cost-effective power solutions.
