The company has allocated Rs 1,138 crore towards new lignite projects; Rs 629 crore to expedite the operationalization of the allotted coal blocks in Odisha. Further, the company has allocated Rs 462 crore for the expansion and modernization of its metal projects.
GMDC is strategically investing Rs 371 crore into the development of power projects, with significant emphasis on renewable energy. Of this investment, over 300+ crore is allocated for the comprehensive overhaul of the ATPS (Akrimota Thermal Power Station), a deliberate move to make a slant towards ending the financial losses associated with thermal power generation.
"Our approved capital outlay for the next five years is a testament to GMDC's robust financial health and our optimistic outlook towards the future. These investments are pivotal in our journey towards achieving long-term growth, operational excellence, and sustainability. We are confident that this strategic capital allocation will create substantial value for our stakeholders- said Roopwant Singh, IAS, Managing Director, GMDC.
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