New Delhi, Aug 3 (IANS): Infrastructure major Lanco Infratech Limited (LITL) Wednesday said it has bagged a project to mine and operate Gare Pelma II coal block in Raigarh district, Chhattisgarh, and to set-up a 2,000 mega watt power plant.
The company did not divulge any financial details of the project it has bagged from Maha Tamil Collieries Ltd (MTCL), but said that this was a major step in consolidating its presence in the natural resources and power sector.
"This is a very good opportunity for us, considering the opportunity to develop and operate one of the largest coal blocks in the country and developing a large scale power project with 100 percent assured domestic coal supply," L. Madhusudan Rao, executive chairman, Lanco Infratech Limited.
Rao further said that the company would benefit from the assured domestic coal supply from captive mine.
"Maha Tamil project offers captive mine, saving the project from high cost fuel mix, avoiding infrastructure and logistic issues at the same time providing for reliable and economical fuel source."
The company added that with this new project its existing coal assets of Griffin in Australia and Rampia block in India now stands at 2 billion tonnes.
The Gare Pelma sector II coal block located in Raigarh district, Chhattisgarh, having geological reserves of approximately 800 million tonnes.