"We have emerged as the winner and selected as a developer and operator of the mine (MDO) of the blocks of the station bore coal coal mines Tamil Maha II. We will establish an energy project in 2000 using coal mine, "said Lanco executive (Business Development) Nagaprasad Kandimalla.
"We will invest Rs 12,000 crore in the proposed power and Rs 1000 crores in the development of the mine. It can take four years for projects to go operational, "he said.
Eight major companies such as GMR, GVK, Jindal Power, L & T, Reliance Coal and Sterlite, participated in the tender called MTCL in July 2010.
"With this victory, and with our current Griffin Coal in Australia and the slosh of the block in India, Lanco Group's presence in the resources sector has grown significantly in excess of 2 billion tonne-kilometers," Lanco Chairman L Madhusudan Rao said .
Kandimalla, said the agreement, the project was crucial Chhattishgarh would be entitled to take 30% of the power from the project.
"The remaining half will be connected to the gate of Tamil Nadu and the rest we will sell on a commercial basis," he said.
Tamil Maha Collieries is a joint venture of Tamil Nadu Electricity Board and MSMC, Maharashtra companies.
Maharashtra can not get all the power of the project. Instead they sought 23% coal from the mine, which has a reserve 768 million tons of fossil fuels.
The Ministry of carbon assigned to the block Pelma Gare Collieries Coal Sector II in Tamil Maha, which was in July last year called ingterest representing the interested parties to accelerate the development of the mine.