Utility firm Damodar Valley Corporation (DVC) will invest in a coal block in the district of Birbhum, West Bengal, reports The Telegraph India.
DVC’s board of directors approved an investment of INR 1,094 crore for the Khagra Joydeb coal block, in the district of Birbhum, state of West Bengal. The block is expected to produce coal for 30 years, at a rate of three million tons per annum.
Reserves at the site are estimated at 103 million tons. The block was originally allotted for captive use by DVC before the Supreme Court decided to cancel all allocation made by the Union government. DVC managed to get back the block under the new allotment process.
“DVC’s operational performance is improving and to secure raw material to keep generation steady and competitive, efforts are ongoing for coal block development. We are in the process of finalizing a mine developer and operator for the block,” said a senior DVC official.
According to the company, developing coal blocks will ensure a safer supply of coal and less dependence from Coal India.[/vc_column_text]
