Coal India announced that the board of directors of the company, has accorded its approval for Project Report of 2X800 MW Coal-based Super-critical Thermal Power Plant (STPP), Hemgir (Sundargarh, Odisha), MCL with a total capital investment of Rs 113.63 billion.

This project is being set up by Mahanadi Basin Power (MBPL) a wholly owned subsidiary of Mahanadi Coalfields, which is a wholly owned subsidiary of Coal India.

Shares of the company gained Rs 1.3, or 0.37%, to trade at Rs 350.50. The total volume of shares traded was 177,616 at the BSE (2.04 p.m., Friday).