Kolkata, Jun 22 (PTI) Coal India subsidiary South Eastern Coalfields Limited (SECL) has signed an MoU with the Madhya Pradesh Power Generation Company Limited (MPPGCL) to develop a 660 MW thermal power unit at an investment of Rs 4,665 crore, the company said on Wednesday.

SECL said a joint venture company will be formed that will execute the 660MW supercritical thermal power plant in Amarkantak Thermal Power Station in Chachai.

Also Read | Jammu and Kashmir: Flash Floods, Landslides Due to Heavy Rains and Snowfall; Schools Shut In Several Districts; Jhelum Crosses Danger Mark in Anantnag.

The MoU was signed by managing director of MPPGCL Bhanjit Singh and SECL General manager Arupdutt Chaudhary in presence of several senior officials.

A company official said SECL already supplies coal to an existing power plant at Amarkantak owned by MPPGCL and the new upcoming unit by the JV will also be fed by coal from its own mines.

Also Read | Xiaomi Mi Smart Band 7 With Always-on-Display, 14 Days of Battery Life Launched.

The project, part of diversification by Coal India's largest subsidiary, will help the miner to improve its bottomline.

"The JV partnership holding pattern has been negotiated and not yet been finalized," the official said.

The plant will be built with modern supercritical state-of-the-art technology. Air-cooled condenser technology will be used in the power unit, which will save water for power generation, the company said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)