Mahanadi Coal fields Ltd, the Coal India arm is planning to diversify into power generation by setting up a coal-based plant in Odisha.
The company is planning to invest around Rs 12,000 crore in the project. MCL has also applied to the government for coal linkage for a proposed 1,600 MW coal based power plant. The power purchase agreement is in the advanced stage of finalization.
Meanwhile, MCL has also plans of foraying into aluminum business and the company is in the process of getting bauxite block allocation.
