"Talabira (Odisha) Mining Private Ltd (TOMPL), a subsidiary of the company, has signed coal mining agreement with NLC India Ltd alongwith the company for development and operation of Talabira II and III coal block," it said in a regulatory filing.
The project is expected to generate a revenue of Rs 12,200 crore, it said.
The subsidiary has become successful bidder for mine developer and operator tender of Talabira II and II coal block, located at IB Valley coalfields in the state's Sambalpur and Jharsuguda districts.
The mine capacity would be of 20 million tonnes per annum with total minable reserve of about 554 million tonnes.
The contract period will be till exhaustion of reserves, that is, about 35 years, including development period, it said.
The Ministry of Coal allocated these two coal blocks to NLC India in 2016 under Coal Mines (Special Provisions) Act, 2015 for development, mining and captive consumption.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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