Coal India Limited has expanded its business diversification efforts by partnering with Damodar Valley Corporation to establish coal-fired 2×800 MW ultra supercritical power plants in Jharkhand. The total investment for this endeavor is estimated at Rs 16,500 crore. This project entails the expansion of the existing Chandrapura thermal power station, increasing its capacity from 2X250 MW to 2X800 MW.
A non-binding Memorandum of Understanding (MoU) was formalized between the two government-owned energy entities in Kolkata. The signing ceremony, which took place on Monday, was attended by CIL chairman PM Prasad and DVC chairman S Suresh Kumar (IAS). The agreement was signed by Debasish Nanda, director (business development) at CIL, and Swapnendu Kumar Panda, member (technical) at DVC, representing their respective organizations.
The joint venture (JV) company will operate on a 50% equity sharing basis. Coal supply for the proposed power plants will be secured from coalfields near CIL's subsidiary companies, Bharat Coking Coal Limited and Central Coalfields Limited.
Reference from News: CIL signs pact with DVC for Rs 16,500cr power project in Jharkhand - The Times of India