The Economic Times daily newspaper is available online now.

    MCL plans to invest Rs 60,000 crore in Odisha in five years

    Synopsis

    To increase the capacity building for the new and expansion of existing projects, the company would invest in procurement of heavy machinery, besides setting-up of 1600 MW (2x800) super critical thermal power plant with planned investment of Rs 11,363 crore in Sundergarh district of Odisha.

    Mining
    The planned investment in social and mining projects will increase direct and indirect employment for local youth and provide opportunities for Medium, Small and Micro Enterprises (MSMEs).
    Mahanadi Coalfields Limited (MCL), a subsidiary of Coal India Limited, on Saturday said it will invest Rs 60,000 crore in Odisha by 2025-26.

    With investment in acquisition of land for three new Mine, Develop and Operate projects, namely Siarmal (50 MTY) in Ib Valley coalfields, Subhadra (25 MTY) and Balbhadra North (10 MTY) in Talcher coalfields, as well as expansion of existing projects the company targets to increase its coal production capacity to 300 million tonnes in about three years, an official statement said.

    To increase the capacity building for the new and expansion of existing projects, the company would invest in procurement of heavy machinery, besides setting-up of 1600 MW (2x800) super critical thermal power plant with planned investment of Rs 11,363 crore in Sundergarh district of Odisha.

    The investment in strengthening coal evacuation infrastructure, like doubling of 53-km-long Jharsuguda-Sardega railway line with a flyover at Jharsuguda railway station and construction of 12 Rapid Loading Systems (RLS), aims at supplementing the increased coal production.

    With the help of state government, the company has planned for creating social infrastructure, like roads, fly-overs, parks, etc. under its Command Area in Sundergarh, Jhasuguda, Sambalpur and Angul districts of state. Of the Re 60,000 crore, Rs 31,000 crore is planned to be spent for mining and social infrastructure development by 2023-24.

    With its focus on land reclamation and environment-protection, the Innovations Cell at company headquarters is undertaking various initiatives to introduce best technology and practices for dust suppression, fire-fighting, eco-friendly coal loading, etc.

    To spread green footsteps, MCL is going to set-up more solar power plants, besides biological reclamation of mined-out area and bringing it to original form by laying top soil, adopting best agricultural and afforestation practices.
    MCL has also adopted a part of tribal-dominated area under its command in Sundergarh for development under Gram Samridhi Yojana, to improve the quality of life in and around MCL’s projects.

    The planned investment in social and mining projects will increase direct and indirect employment for local youth and provide opportunities for Medium, Small and Micro Enterprises (MSMEs).


    (You can now subscribe to our Economic Times WhatsApp channel)
    (Catch all the Business News, Breaking News Budget 2024 News, Budget 2024 Live Coverage, Events and Latest News Updates on The Economic Times.)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    ...more
    The Economic Times

    Stories you might be interested in