MCL, a subsidiary of Coal India, is in the process of diversifying into power generation and plans to invest around Rs 12,000 crore in Odisha, according to its chairman-cum-managing director O P Singh.
Mahanadi Coalfields Ltd (MCL) also intends to enter the aluminium business.
“We are into process of diversifying into power generation… The power purchase agreement is in the process of getting finalised with a few states,” Singh told reporters.
The subsidiary has applied to the government for coal linkage for the proposed 1,600-mw coal-fired power plant and the allotment is yet to be done, Singh said.
The government is also advising the company to go for diversification “so they are definitely with us”, Singh explained.