BHUBANESWAR: Mahanadi Coalfields Limited (MCL) has planned for a capital expenditure of Rs 3,500 crore in 2023-24 towards infrastructure sector. The company which registered a record 193.3 million tonne coal production with highest ever 192.7 million tonne coal despatch to consumers during 2022-23, will make the capital investment mainly infrastructure projects for eco-friendly despatch of coal, said MCL chairman-cum-managing director Om Prakash Singh.
The company had made capital expenditure (Capex) of Rs 3,850 crore during the financial year 2022-23. Highlighting the achievements of MCL in the last financial year at a media conference here, Singh said coal company registered a 15 per cent growth on coal production and nine per cent growth in coal despatch in the previous financial year 2021-22.
“We are happy to share that MCL has achieved all its targets much ahead of schedule and have contributed to Coal India surpass its target of 700 million tonne set for financial year 2022-23,” he added. Singh said the coal despatch to power sector increased from 127.12 million tonne in 2021-22 to 148.8 million tonne in 2022-23, a growth of 17 per cent in view of the rising demand of electricity in the post Covid-19 pandemic period.
Responding to a query on business diversification of MCL, Singh said, “We are in the process of diversifying into power generation and alumina production. We have applied for coal linkage for the proposed power plant and bauxite block in the state. The state government has approved our proposal for allotment of a bauxite block,” Singh said.
Though the company has planned a decade ago to set up pit-head supercritical power plant of 1600 MW (800 MW X 2) capacity in Sundargarh district, it is in a state of limbo. Though MCL has incorporated a special purpose vehicle called Mahanadi Basin Power Limited (MBPL) to undertake the thermal power project, Singh did not elaborate the current status of the power project.
On operationalisation of the medical college and hospital set up by MCL at Talcher, Singh said efforts are made to start the hospital from October this year. Steps are taken for recruitment of doctors, paramedical and other staff for running the hospital which will be done by the state government. He said, critical equipment are being installed and necessary permission from regulatory authorities are being obtained. However, he could not give a time frame about the start of the medical college.