According to its chairman-cum-managing director O P Singh, Coal India arm MCL is in the midst of diversifying into power generating and would build a coal-based plant in Odisha that will require an investment of about Rs 12,000 crore.
Additionally, Mahanadi Coalfields Ltd (MCL) intends to develop into the aluminium industry.
“We are into process of diversifying into power generation… The power purchase agreement is in the process of getting finalised with a few states,” Singh told the media.
According to Singh, the company has requested coal linkage from the government for the proposed 1,600 mw coal-fired power station, but the allocation has not yet been completed.
According to Singh, the government is also advising the corporation to pursue diversification “so they are certainly with us.”
Singh added that MCL is in the process of receiving a bauxite block allocation and that the company has intentions to enter the aluminium market.
The mine would likely produce three million tonnes annually.
The most typical raw material used to create alumina for the manufacturing of aluminium metal is bauxite.
The Sambalpur-based company, which set a goal of generating 176 MT of coal in the current fiscal year, is already ahead of schedule with an anticipated output of 190 MT by the conclusion of the fiscal year.
Over 168 million tonnes were produced at a record rate by MCL in 2021–22, an increase of over 14% from the prior fiscal year.
The miner from Odisha sent 176.17 MT of coal to its customers, an increase of 21% from the previous year.
The “mini ratna” public sector enterprise now operates 18 coal mines, 15 of which are open cast mines.
Prasanta Patnaik