Investing.com -- Coal India (NSE: COAL ), the leading coal producer in the country, has announced plans to construct a 1,600 megawatt coal-powered plant in the eastern state of Jharkhand. The project, which is a joint venture, will require an investment of 165 billion rupees ($1.94 billion) and aims to meet the growing demand for power.

The state-owned company signed a non-binding memorandum of understanding on Monday with the state-run power generator, Damodar Valley Corporation. The new plant will consist of two 800 MW units and will expand on an existing 500 MW plant.

In addition to this project, Coal India is also in the process of constructing two thermal power plants in the central Indian state of Madhya Pradesh. These plants, located at the company’s coal pit-heads, will have a capacity of 660 MW. Furthermore, a 1,600 MW plant is being built in the eastern state of Odisha. Both projects are expected to be completed by 2030.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.