The government on Friday said it has issued allocation order for a coal mine in Odisha to Aditya Birla Group firm Hindalco Industries Ltd. The government issued the vesting order for the Meenakshi coal mine that has a peak rating capacity of 12 million tonnes per annum. This follows the signing of the agreement for development and production of coal mine last month.
The Meenakshi coal mine, a fully explored block, has geological reserves of 285.23 million tonnes.
The block is likely to generate an annual revenue of Rs 1,152.84 crore, based on its peak rated capacity, the coal ministry said in a statement.
With an estimated capital investment of Rs 1,800 crore, the mine will significantly augment domestic coal production and contribute to strengthening energy security, it said.
The development of the block is likely to provide employment to about 16,224 individuals, both directly and indirectly, contributing to the economic growth in the region.
"This initiative marks a significant step toward boosting the nation's coal production capacity, supporting economic development, and creating sustainable employment opportunities," the statement added.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
