Coal India, DVC sign pact for ₹16,500 Crore deal

22 Apr 2025 , 01:41 PM

Coal India Limited announced on Monday that it has entered into a collaboration with Damodar Valley Corporation for establishment of a 1,600 MW (2×800 MW) ultra-supercritical thermal power plant in Jharkhand.

The company informed that the expected investment in this project shall be ₹16,500 Crore. As per the company’s filing with the bourses, the brownfield project is an extension of the existing Chandrapura Thermal Power Station (CTPS). The existing project has an operational capacity of 2×250 MW.

The two government-owned entities signed a non-binding Memorandum of Understanding (MoU) on April 21, 2025, in Kolkata. DVC is power utility company operating across Jharkhand and West Bengal.

As per the reports, both the companies will own a 50% stake in the stated Joint Venture. Coal will be supplied from coalfields located nearby CIL’s subsidiary companies, namely, Bharat Coking Coal Limited and Central Coalfields Limited.

In the quarter ended December 2024, Coal India logged a net profit of ₹8,491.20 Crore, down 17.50% on a year-on-year basis against ₹10,291.70 Crore in the previous corresponding period.

The company posted a marginal decline of 1% in its revenue from operations. Company’s revenue came in at ₹35,779.80 Crore against ₹36,154 Crore in the same quarter of previous year.

The company reported an EBITDA of ₹12,317.20 Crore, down by 5% year-on-year against ₹12,970.70 Crore in the previous comparable period.

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