Coal India to Spend $8 Billion on Coal-Fired Plants Near Mines
- Company to invest most of the money in six to seven years
- State-owned firm has approval for 4.7 gigawatts of capacity
This article is for subscribers only.
Coal India Ltd. is planning to invest about 670 billion rupees ($8 billion) to build coal-fired power plants close to its mines, signaling the fast-growing economy will remain reliant on the fossil fuel for decades to come.
The state-owned miner has already won approval for 4.7 gigawatts of generation to be built over the next six to seven years, with most of the facilities to be in the state of Odisha on India’s east coast, Business Development Director Debasish Nanda said in an interview. Another 2 gigawatts are currently under discussion and may take longer to complete, he said.