Coal India and DVC Forge Joint Venture Agreement
Kolkata: Coal India Ltd (CIL) and Damodar Valley Corporation (DVC), both state-owned companies, have recently entered into a significant joint venture. The agreement was finalized on Friday, following a memorandum of understanding signed in April, which received approval from the power ministry.
This joint venture will focus on expanding the existing 1600-MW thermal power project at DVC’s Chandrapura Thermal Power Station in Jharkhand. Additionally, both companies will explore future opportunities in thermal and renewable energy ventures.
The estimated investment for this project is around ₹21,000 crore, with an equal equity sharing between CIL and DVC. The coal for these power plants will be sourced from CIL’s subsidiary located in Jharkhand, known as Central Coalfields.
