However, the board approval for Mahanadi Coalfields’ maiden thermal power plant could be delayed due to absence of an independent director in Coal India.
The project is expected to commence following approval from its own board as well as that of its parent CIL board, Moneycontrol.com reports.
At the Mining, Geological and Metallurgical Institute of India seminar, MCL chairman and managing director A N Sahay said: "The board may take up the matter in the next meeting on September 17. Once it is cleared, it would reach the Coal India board for approval.
"Once the CIL board gives its nod and clearances are received, it would take another three years for the power plant to come into operation." The project, which will involve an investment of around will be located in the Sundergarh district of Odisha and will required , it is the maiden pithead thermal power project of CIL involving an investment of around INR100bn ($1.6bn).
MCL, which has secured 800 acres of land and has water linkages in place, is planning to use coal from its Basundhara coal mines for the project, while the final use of the power produced from the plant is yet to be determined by the Coal India board.
