Mahanadi Coalfields Ltd is planning to set up a 1600 MW coal fired power plant in Sundergarh district of Maharashtra. The company plans to utilize the unsold coal reserves in its Basundhra mines. It is looking for a joint venture partner to develop the project. It has appointed PFC Consulting, to select a joint venture partner where Mahanadi Coalfields will have 26% stake. MCL will supply land for the project and coal at modified rates.
The company has floated a special purpose vehicle - Mahanadi Basin Power Ltd to implement the project.