Coal India Ltd Receives In-Principle Approval for Equity Infusion in JV with DVC

Coal India Ltd has received in-principle approval for equity infusion of ₹3,132.96 crore in a joint venture with Damodar Valley Corporation. The total indicative project cost is ₹72,088.64 crore with a debt-equity ratio of 70:30. The JV aims to collaborate across various aspects in the field of power generation, including thermal power projects and renewable energy projects with/without storage to meet the growing energy demand and ensure energy security for the valley area of DVC and other parts of India. The acquisition is a cash consideration for 50% equity and 70% debt. The shares are acquired by both Coal India Ltd and Damodar Valley Corporation, each holding 50% shareholding.