State-run Coal India Ltd on Tuesday said its board has approved a pre-feasibility report for setting up an integrated aluminium project in Odisha.
The miner, in December last year, had got in-principle approval for venturing into aluminium and solar sectors and creation of special purpose vehicles.
“CIL in its board meeting held on date had accorded its in-principle approval to pre-feasibility report for setting up of integrated greenfield aluminium project in Odisha which shall include bauxite mining, alumina refinery, aluminium smelter and associated captive power plant by its wholly owned subsidiary Mahanadi coalfields Limited,” the coal behemoth said in a regulatory filing.
The Maharatna PSU accounts for over 80 percent of domestic coal output and has expertise in mining.
The Centre has also asked the state-owned miner to diversify its business and explore prospects in areas like electric vehicles and charging pods.
“CIL must diversify its business and explore prospects in sunrise industries electric charging pods, EVs etc,” according to Coal Ministry’s agenda for 2021-22.
It further said that CIL has plans to diversify considering the future restriction on carbon emission which is inevitable.
Source: Press Trust of India