Mahanadi Coalfields plans to acquire majority stake in NTPC’s Odisha plant

Mahanadi Coalfields plans to acquire majority stake in NTPC’s Odisha plant

Mahanadi Coalfields Ltd (MCL), a subsidiary of Coal India, is looking at a majority stake in the proposed Rs 13,000 crore 1,600 mw super critical power venture with NTPC in Odisha.

Talking to journalists, Coal India chairman AK Jha, said, “We have recently received coal supply assurance for the project. Land has been allotted and environment as well as forest clearances were recently received. We hope to commission the project soon.”

He added: “Once the project is commissioned our total capex for the year is expected to increase from Rs 9,500 crore to Rs 11,500 crore.” The plant is scheduled to come up at Sundergarh in Odisha where Indian railways have laid a 53 km track to transport coal.

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