New Projects of OMC

Consistent good performance over the past few years has enabled OMC to undertake new capital intensive projects which are essential to sustain its good performance in the long run.

Joint Venture (JV) Projects:
OMC has decided to diversify its activities and has entered into sectors such as coal and bauxite mining and power generation. A number of Joint Venture Companies have been formed/ are in the process of formation.

Own Projects:
These are projects undertaken by OMC in order to enhance the present performance level of the Company.

The details of the Joint Ventrue projects as well as Own Projects are given below:

Joint Venture (JV) Projects & Coal Project

1.JV BETWEEN OMC & RTMD:

Brief description of the project

As per the directive of the Govt., Odisha Mining Corporation Limited signed an Agreement with Rio Tinto Mineral Development (RTMD) on dt. 24.2.1995 & a JV Company was incorporated to develop Gandhamardan & Malangtoli Mining Leases.

Present Status

Due to very low progress of the project & as per the advice of the GoO, OMC terminated the JV Agreement made between OMC & RTMD on dt. 4.7.2015.

1. JV BETWEEN OMC & STERLITE INDUSTRIES (INDIA) LIMITED (SIIL):

Brief description of the project

A Joint Venture Agreement was signed between OMC and Vedanta Alumina Limited (A subsidiary of Sterlite Industries (India) Limited) on 5.10.2004 & 18.2.2009 for development of Lanjigarh bauxite Mining project.

Present status

As per the directive of the Govt. of Odisha, OMC Ltd. terminated the JV Agreement between OMC & SIIL on dt. 30.09.2015.

 

2. JV BETWEEN OMC & HINDALCO:

Brief description of the project

A Joint Venture Agreement was executed between OMC & Hindalco Industries Ltd. on dt. 25.10.2005 for development of Kodingamali Bauxite deposit in Koraput district for supply of bauxite to the Alumina refinery of HINDALCO at Kansarigada, Rayagada district.

Present status

As per the directive of the Govt. of Odisha, OMC terminated the JV Agreement between OMC & M/s Hindalco on dt. 5.10.2015.

1. Kalinga Coal Mining Pvt. Ltd. (KCMPL)

Brief description of the project

Joint Venture Agreement signed on 29.12.2003 between Odisha Mining Corporation Ltd. and Sainik Mining and Allied Services Ltd. (SMASL) to develop Utkal-D coal block having a coal reserve of 145 MT in Angul district. A JV Company namely Kalinga Coal Mining Pvt. Ltd. (KCMPL) was formed. As per the directive of Govt. of Odisha, the JV Agreement has been terminated by OMC Ltd. on 27.09.2012.

Present status

As per the MoC, GoI letter dated 26.12.2014, OMC has sent all available data regarding valuation / computation of compensation payable to the prior allottee / JV Company for Utkal-D coal-block.

 

2. Nuagaon Coal Company Ltd. (NCCL) :

Brief description of the project

The Ministry of Coal, GoI had allotted Nuagaon-Telisahi coal block having a coal reserve of 733.83 MT in Angul district on 2.8.2006 in favour of OMC & Andhra Pradesh Mineral Development Corporation Ltd. (APMDC) on 50:50 sharing basis. A JV Company namely Nuagaon Coal Company Ltd. (NCCL) was formed on 11.05.2011.

Present status

As per the MoC, GoI letter dtd. 22.09.2015, OMC has sent all available data regarding valuation / computation of compensation payable to the prior allottee / JV Company for Nuagaon-Telisahi coal-block.

 

3. Mandakini–B Coal Corporation Ltd. (MBCCL) :

Brief description of the project

The Ministry of Coal, GoI had allotted Mandakini–B coal block having a coal reserve of 1200 MT in favour of OMC Ltd, Assam Mineral Development Corporation, Meghalaya Mineral Development Corporation & Tamil Nadu Electricity Board on equal sharing basis for power generation on dt. 25.07.2007. A JV Company namely Mandakini–B Coal Corporation Ltd. (MBCCL) was formed.

Present status

As per the MoC, GoI letter dtd. 22.09.2015, OMC has sent all available data regarding valuation / computation of compensation payable to the prior allottee / JV Company for Mandakini-B coal-block.

 

4. Baitarni-West Coal Project :

Brief description of the project

The Ministry of Coal, GoI has allotted Baitarni-West coal block having a coal reserve of 602 MT with a production capacity of 15 MTPA in favour of OMC Ltd for “sale of coal” on dt. 29.09.2016.

Present status

Land acquisition for this coal project is being undertaken through CBA (A&D) Act, 1957. Steps are being taken for obtaining Statutory Clearances & other pre-mining activities. MDO selection for this project is under progress. Coal production from this Coal Project is expected to commence during the FY 2024-25.