Cabinet approves equity investment by (i) South Eastern Coalfields Limited for setting-up 1×660 MW Thermal Power Plant through JV of SECL and MPPGCL; and (ii) Mahanadi Coalfields Limited for setting-up 2x800 MW Thermal Power Plant through MBPL

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....abinet approves equity investment by (i) South Eastern Coalfields Limited for setting-up 1×660 MW Thermal Power Plant through JV of SECL and MPPGCL; and (ii) Mahanadi Coalfields Limited for setting-up 2x800 MW Thermal Power Plant through MBPL <br>News and Press Release<br>Dated:- 18-1-2024<br><BR>The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi today appr....

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....oved proposal for equity investment by (i) South Eastern Coalfields Limited (SECL) for setting-up 1&times;660 MW Thermal Power Plant through JV of SECL and MPPGCL; and (ii) Mahanadi Coalfields Limited (MCL) for setting-up 2x800 MW Thermal Power Plant through Mahanadi Basin Powe Ltd (MBPL - a subsidiary of MCL). The CCEA has approved the proposal of equity investments by SECL, MCL and CIL as follo....

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....ws: (a) Equity Capital of Rs.823 Crore (&plusmn; 20%) 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 (accuracy of &plusmn;20%) for the proposed 1&times;660 MW Supercritical Thermal Power Plant through JV of SECL and MPPGCL at Amarkantak Thermal Power Station in Village Chachai, Anuppur District, Madhya Pr....

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....adesh. (b) Equity Capital of Rs.4,784 Crore (&plusmn; 20%) by MCL for the proposed 2&times;800 MW Super-Critical Thermal Power Plant in Sundargarh District, Odisha with an estimated Project Capex of Rs.15,947 Crore (accuracy of &plusmn;20%) through MBPL. (c) Approval to MBPL, an SPV of MCL to set up the 2&times;800 MW Super-Critical Thermal Power Plant. (d) Equity Investment by CIL beyond 30....

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....% of its net worth in the JV of SECL-MPPGCL (Rs.823 Crore &plusmn; 20%) as at (a) above, and in MBPL, a 100% wholly owned subsidiary of MCL (Rs.4,784 Crore &plusmn; 20%) as at point (b) above. Coal India Limited (CIL), the largest coal mining company in the world, will set up following two Pithead Thermal Power Plants, through its subsidiaries, with a view to provide cheaper power to the country ....

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....- (a) 1&times;660 MW Supercritical Coal-Based Thermal Power Plant (TPP) at Amarkantak Thermal Power Station in Village Chachai, Anuppur District, Madhya Pradesh, through JV between SECL and Madhya Pradesh Power Generating Co Ltd (MPPGCL); (b) 2&times;800 MW Supercritical Thermal Power Plant, in Sundergarh District, Odisha, through 'Mahanadi Basin Power Ltd' (MBPL), a Wholly Owned Subsidiary of....

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.... MCL.<BR> News - Press release - PIB....