Coal India Ltd inks MoU with Damodar Valley Corporation to set up 2 X 800 MW power plant

Widening further its business diversification portfolio into thermal power generation, Coal India Limited (CIL), the country's frontline coal producer formally joined hands with Damodar Valley Corporation (DVC) to set up a coal fired 2×800 MW Ultra Supercritical Power Plants in Jharkhand. DVC is the power generator that operates in the states of West Bengal and Jharkhand. This would be a Brownfield project - an expansion of existing Chandrapura Thermal Power Station (CTPS) of 2 X 250 MW capacity.

A non-binding Memorandum of Understanding (MoU) was signed between the two government owned energy entities on 21 April 2025 in Kolkata.

In the presence of Mr. P M Prasad, Chairman, CIL and Mr. S Suresh Kumar, (IAS) Chairman, DVC, the pact was inked by Mr. Debasish Nanda, Director (Business Development) CIL and Mr. Swapnendu Kumar Panda, Member (Technical) DVC on behalf of the respective companies.

The total investment would be to the tune of Rs. 16,500 Crores. The joint venture company would be on 50% equity sharing basis. Coal for the proposed power plants would be sourced from coalfields in the proximity from CIL's subsidiary companies Bharat Coking Coal Limited and Central Coalfields Limited.

Shares of Coal India Limited was last trading in BSE at Rs. 400.55 as compared to the previous close of Rs. 398.75. The total number of shares traded during the day was 253132 in over 5497 trades.

The stock hit an intraday high of Rs. 406.00 and intraday low of 395.90. The net turnover during the day was Rs. 101754696.00.

Source : Equity Bulls

Keywords

CoalIndia INE522F01014 MoU DamodarValleyCorporation PowerPlant