The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on Thursday approved the proposal for equity investments by two coalfields for setting up thermal power plant.
Representation image (Photo: NTPC)
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on Thursday approved the proposal for equity investments by two coalfields for setting up thermal power plant.
It approved the equity investments by South Eastern Coalfields Limited (SECL) for setting up 1×660 MW Thermal Power Plant through a Joint Venture with Madhya Pradesh Power Generating Co Ltd (MPPGCL), and by Mahanadi Coalfields Limited (MCL) for setting-up 2×800 MW Thermal Power Plant through Mahanadi Basin Power Ltd (MBPL), a subsidiary of MCL.
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The CCEA has approved the Equity Capital of Rs 823 Crore by SECL considering a Debt-Equity Ratio of 70:30 and 49% Equity Investment in JV Company with an estimated Project Capex of Rs 5,600 Crore for the proposed 1×660 MW Supercritical Thermal Power Plant at Amarkantak Thermal Power Station in Village Chachai, Anuppur District, Madhya Pradesh.
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It further approved the Equity Capital of Rs 4,784 Crore by MCL for the proposed 2×800 MW Super-Critical Thermal Power Plant in Sundargarh District, Odisha with an estimated Project Capex of Rs 15,947 Crore through MBPL.
Equity Investment by CIL beyond 30% of its net worth in the JV of SECL-MPPGCL has also been approved by the cabinet.
Also, the cabinet gave approval to MBPL, an SPV of MCL to set up the 2×800 MW Super-Critical Thermal Power Plant.
The Coal India Limited (CIL) will also set up two Pithead Thermal Power Plants, through its subsidiaries.
CIL will set up a 1×660 MW Supercritical Coal-Based Thermal Power Plant at Amarkantak Thermal Power Station in Village Chachai, Anuppur District, Madhya Pradesh, through JV between SECL and Madhya Pradesh Power Generating Co Ltd (MPPGCL).
Also, it will setup a 2×800 MW Supercritical Thermal Power Plant, in Sundergarh District, Odisha, through MBPL, a Wholly Owned Subsidiary of MCL.
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