Mahanadi Coalfields Draws ₹60,000 Crore Investment Proposal
Coal India’s subsidiary Mahanadi Coalfields Limited (MCL) has detailed an investment proposal worth ₹60,000 crores, to be used for the development of mines and other social infrastructure in Odisha by 2023-24. With a target to enhance coal production to 300 million tonnes a year in the next few years, the company also plans to invest in land acquisition to mine, develop and operate three new projects- Siarmal, Subhadra, and Balbhadra North in the Talcher coalfields.
“To increase the capacity building for the new and expansion of existing projects, the Central PSU (CPSU) has planned to invest heavily in the procurement of heavy earthmoving machinery (HEMM). Also, it has planned to set up a 1600 MW (2×800 MW) supercritical thermal power plant with a planned investment of Rs 11,363 crore in Sundergarh district,” said an official.
Mahanadi Coalfields operates thirty coal mines in the state, and is directly responsible for the upkeep of social infrastructure like parks and flyovers under its command, in Sundergarh, Jharsuguda, Sambalpur and Angul districts. The innovation cell of the firm is also engaged in undertaking activities to reduce its carbon footprint and has undertaken several initiatives to harmonise its operations with the vision of a clean and green environment.