The Indian government’s Cabinet Committee on Economic Affairs (CCEA) has approved equity investments of Rs56.07bn ($674m) by subsidiaries of Coal India in two coal-fired power plants with a combined generation capacity of 2.26GW, The Hindu reported.
The investment will be made by state-owned South Eastern Coalfields (SECL) and Mahanadi Coalfields (MCL) to establish two thermal power projects.
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The decision was made at a meeting of the CCEA convened by Indian Prime Minister Narendra Modi.
SECL will establish a 660MW thermal power plant through a joint venture with Madhya Pradesh Power Generating Co Ltd (MPPGCL).
MCL will build a 2x800MW thermal power plant through its subsidiary, Mahanadi Basin Power Ltd (MBPL).
SECL will provide equity capital of Rs8.23bn ($989,699) for the proposed 660MW supercritical thermal power plant at Amarkantak Thermal Power Station in the state of Madhya Pradesh.
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By GlobalDataMCL’s investment in equity capital for the proposed 2x800MW supercritical thermal power plant in Sundargarh district in the state of Odisa is Rs47.8bn, with an estimated project capital expenditure of Rs159.47bn ($1.9bn) through MBPL.
The CCEA has also approved Coal India Ltd’s (CIL) equity involvement in the SECL-MPPGCL joint venture.
Coal India Ltd is the world’s largest coal mining business.
