Reportedly, Coal India Limited’s arm, Mahanadi Coalfields Limited (MCL) is in the process of diversifying into power generation and will set up a coal-based plant in Odisha entailing an investment of around Rs 120 billion.
MCL also has plans to diversify into aluminium business. MCL 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.