MCL lines up Rs.20,000-cr capex to ramp up output
Coal India Ltd (CIL) subsidiary Mahanadi Coalfields Ltd (MCL) has unveiled a `20,000 crore capital expenditure (capex) plan to reach the envisaged output of 250 million tonne (MT) by 2020. MCL is tipped to be CIL´s biggest producer, overshooting South Eastern Coalfields Ltd (SECL) and accounting for a fourth of CIL´s estimated production of one billion tonne by 2020.
CIL to appoint consultant for Odisha plant
Going ahead with its plan to set up a Rs 10,000-crore power plant in Odisha, state-run miner Coal India in this fiscal will appoint a consultant who would provide help in setting up the project.
We have outstanding loan sanctions of Rs.1.65 lakh crore
Due to cancellation of coal blocks, there are a total of 16 projects with an exposure of Rs 36,237 crore which were affected. Out of these 16 projects, 12 projects belonged to the government sector with an exposure of roughly Rs 32,000 crore.
Coal India board ratifies Rs.11,000 crore thermal power foray
The Coal India board has ratified the first 1,600 MW (800 MW x 2) pithead thermal power project by its subsidiary Mahanadi Coalfields at a capital expenditure of Rs 11,000 crore for the foray into electricity generation by the world´s biggest coal producer.
MCLs 1600 MW thermal power project to seek nod
Coal India´s subsidiary Mahanadi Coalfields first 1600 MW pithead thermal power project is expected to be ratified at the next board meeting. Once it is cleared, it will reach the Coal India board for approval. Located in the Sundergarh district of Odisha, it is the maiden pithead thermal power project of CIL involving an investment of around Rs 10,000 crore.
The missing link
Turning around the coal sector in India is among the top priorities of the new government. Though the sector suffers from many anomalies, the health of the industry can be encapsulated by a single statistic