The board of Coal India Limited (CIL) has given its nod to conduct a pre-feasibility study for setting up an aluminum project in Odisha, as part of the state-owned company’s ambitious plans to diversify into other sectors. .
The Maharatna company had received in-principle approval for its entry into aluminum and solar energy sectors in December 2020.
CIL’s greenfield aluminum project in Odisha will include bauxite mining and will have an alumina refinery, an aluminum smelter as well as a captive power plant, which will be managed by the company’s wholly owned subsidiary Mahanadi Coalfields Limited.
Coal India is the largest dry fuel producer in the country as it provides more than 80 per cent of the coal.
In its recently released agenda for 2021-22, the company had detailed that it plans to diversify into new areas such as electric vehicles, charging pods and other sunrise areas.
The company, in a regulatory filing, informed about the board’s approval for the pre-feasibility study.