Coal India Ltd.

Coal India (CIL), mining major has chosen the Power Finance Corporation (PFC) to decide on a suitable partner and operator for its proposed 1,600-MW power project in Orissa. The company is looking for a 50:50 JV.

CIL is going to utilize the coal from Vasundhara coalfields in Orissa for the 1,600-MW coal-based power plant. The company is planning to come up with power projects one in Bandraigarh in Chatttisgarh and the other in North Karanpura in Jharkhand.

At present, CIL tries to evacuate coal by selling it through e-auction and already has permission to sell 20% of the coal from these locations through the auction route. Coal sold via auction is evacuated by buyers via road.