Date | April 21, 2016:
Two state public sector undertakings Odisha power generation company ltd (OPGC) and Odisha hydro power corporation limited (OHPC), today signed a share holder agreement for formation of a joint venture company Odisha coal and power limited (OCPL).
As per the agreement, the OPCL will develop and operate Manoharpur and dip-side Manoharpur coal blocks catering the fuel requirement of OPGC's 4x660 mw expansion power project at Ib thermal power station.
The OPGC has a stake of 51 per cent in the joint venture while the remaining 49 per cent will be with the OHPC, as per the agreement signed today in the presence of Odisha energy minister Pranab Prakash Das.
The signatories to the agreement were OPGC managing director Indranil Dutta, director (finance), OHPC Bijaya Kumar Behera, and chairman-cum managing director GRIDCO and director, OCPL Hemant Sharma.
OCPL was incorporated in January 2015 as a wholly owned subsidiary company of OPGC and subsequently formed as a JV company between OPGC and OHPC on February 21, 2015. OCPL will have seven directors in the board where four directors from OPGC and three directors from OHPC will be nominated by their respective boards. The principal secretary to energy department in Odisha government will be the chairman of the company.
Official sources said the allotment order for two coal blocks such as Manoharpur and dip-side Manoharpur in Sundargarh district of Odisha was issued by ministry of coal in favour of OCPL in August 2015.
The total reserve of these two coal blocks is estimated to be 531 MT (Manoharpur coal block-181 MT and dip-side Manoharpur coal block-350). The coal will be produced initially from Manoharpur coal block with rated capacity of 8 MT per annum.
The capacity will be further enhanced to 15 MT per annum when unit 5 and 6 of OPGC becomes operational, thus coal from these two mines will meet the fuel requirement of 4x660 mw expansion power project of OPGC.
The JV company plans to start the mine operation by April, 2019 in accordance with the stipulations of the efficiency parameters of allotment agreement signed with nominated authority. Coal produced at these blocks will be transported from Manoharpur in Sundargarh district to the Ib thermal power station in Jharsuguda district through a dedicated MGR rail corridor being constructed by OPGC.
Speaking on the occasion, Odisha energy minister Pranab Prakash Das said OCPL will progress in leaps and bounds and will surely commence production at the coal blocks before the schedule date.
He said the OCPL will set its own benchmark in efficiency in mining operations and uninterrupted supply of quality coal fulfilling the fuel requirement of the 4x660 mw expansion project of OPGC at Ib thermal power station.
(Source: http://news.webindia123.com/)