Adani Power arm okays merger of Stratatech Mineral with itself

New Delhi: Adani Power Ltd (APL) on Monday said its arm Mahan Energen Ltd has approved a proposal to merge coal mining firm Stratatech Mineral Resources Pvt Ltd (SMRPL) with itself which will help improve fuel security.

Stratatech Mineral Resources, a subsidiary of Adani Enterprises, has been allocated Dhirauli Coal Mine in Madhya Pradesh.

The coal mine is in close proximity to MEL’s thermal power plant.

The proposed amalgamation will allow MEL to operate the Dhirauli Coal Mine as captive coal mine and improve its fuel security, the company said in an exchange filing. Dhirauli Coal Mine has a peak-rated capacity to produce 6.5 million tonnes per annum of coal.

The proposed scheme of amalgamation is subject to necessary approvals including that of shareholders, the company said. “... the wholly-owned subsidiary Mahan Energen Limited (MEL or the transferee company) has approved a scheme...for amalgamation of SMRPL with MEL,” it said.