The cornerstone of MIEL's growth strategy is to expand into new business lines while most effectively harnessing the existing capabilities and knowledge base. This is in line with the Group's commitment to empower India's vision to build robust core infrastructure.
MIEL has taken a rapid stride forward from producing power for captive consumption; to become an Independent Power Producer (IPP) through its subsidiary Monnet Power Company Limited (MPCL) by setting up a thermal power plant of IPP of 1050 MW backed with pit head captive coal mine in Angul, Orissa. This project is envisaged to be amongst lowest cost generation units in the world.
Additional 660 MW expansion
The Company is also setting up additional super critical 660 MW power plant at the same site and is fully equipped in terms of the land requirement and fuel for the same. During the year, the Company received the terms of reference relating to the environmental clearance for the additional capacity from Ministry of Environment and Forests.