Mahanadi Coalfields Limited (MCL) on Saturday said it has laid out an investment of about Rs 60,000 crore in Odisha, with Rs 31,000 crore to be spent for mining and social infrastructure development by 2023-24.
MCL, a subsidiary of Coal India Ltd, targets to increase its coal production capacity to 300 million tonne with investment in the acquisition of land for three new MDO (mine, develop and operate) projects, namely Siarmal (50 million tonne per year) in Ib Valley, Subhadra (25 MTY) and Balbhadra North (10 MTY) in Talcher coalfields, as well as the expansion of existing projects, the company said in a statement.
To increase the capacity building for the new and expansion of existing projects, the company would invest in procurement of heavy earthmoving machinery, besides setting-up of 1,600 MW (2x800) supercritical thermal power plant with a planned investment of Rs 11,363 crore in the Sundergarh district, it said.
The investment in strengthening coal evacuation infrastructure, like doubling of 53-km-long Jharsuguda-Sardega railway line with a flyover at Jharsuguda railway station and construction of 12 Rapid Loading Systems (RLS), aims at supplementing the increased coal production, it said.
With the help of the Odisha government, the company has planned for creating social infrastructure such as roads, flyovers and parks in its command area in Sundergarh, Jhasuguda, Sambalpur and Angul districts.
To spread green footsteps, MCL said it is going to set up more solar power plants, besides reclamation of mined-out area and bringing it to original form by laying topsoil, adopting the best agricultural and afforestation practices.
This apart, the MCL said it has also adopted a part of the tribal-dominated area under its command in Sundergarh for development under Gram Samridhi Yojana to improve the quality of life in and around MCLs projects.
The planned investment in social and mining projects will not only increase direct and indirect employment for local youth but also provide opportunities for Medium, Small and Micro Enterprises (MSEMs).