Mumbai: The government is expected to raise more than 15 lakh crore from coal auctions, with over Rs 2 lakh crore already in the kitty from the current round. The money received will be split between the states and the centre and will accrue steadily over a period of 30 years, depending on the life […]
Category: Coal
Coal
Railway rakes scarcity a major impediment to Coal India’s sales targets
KOLKATA: Poor availability of railway rakes is acting as a major impediment to Coal India’s achievement of sales targets. Officials fear that it would lead to these remaining unmet and addition of fresh volumes to already high stocks. “We have been asking for 236-237 rakes a day but the Indian Railways is not in a […]
Coal scam: Court grants bail to three top officials of RSPL
New Delhi: A special court today granted bail to three top officials of Delhi-based Rathi Steel and Power Ltd (RSPL) in a coal scam case pertaining to alleged irregularities in allocation of Kesla North coal block in Chhattisgarh to the firm. RSPL’s Managing Director Pradip Rathi, Chief Executive Officer Udit Rathi, and AGM Kushal Aggarwal […]
Tough legal fight awaits Birla group in coal allocation scam trial
Mumbai: The trial court’s order to summon former prime minister, Manmohan Singh alongwith Kumar Mangalam Birla, Chairman of Aditya Birla group as accused on April 8th in the allocation of Talabira II coal block allocation to Hindalco is all set to result in an unprecedented legal fight. The Birlas will now have to battle it […]
Delhi government eyeing coal block to set up own power plant
NEW DELHI: The AAP-led government has taken a step towards making the capital self sufficient in power generation and is banking on enhancing generation by up to 4,000MW by establishing a coal-based power plant in another state. Delhi power minister Satyendar Jain recently met Union power minister Piyush Goyal over the government’s proposal for a […]
Hindalco, Jindal Power bag mines on 3rd day of auctions
NEW DELHI: Hindalco Industries and Jindal Power have bagged one mine each on the third day of the second phase of the coal block auctions. Hindalco Industries has bagged Dumri mine in Jharkhand for an estimated Rs 9,809 crore, while Jindal Power won Tara block in Chhattisgarh for Rs 2,103 crore. Bidding for Nerad Malegaon […]
Govt begins 2nd phase of coal mine auctions
New Delhi: Government today began the second round of coal mine auctions by putting on offer four blocks – all in Jharkhand – with firms including Adani Power, JSW Steel, SAIL and BALCO in the race. The mines on offer are Jitpur, Moitra, Brinda and Sasai. “2nd phase of coal auction commences. Jitpur opened at […]
Feb coal imports jump from year ago
New Delhi: Imports of thermal and coking coal jumped 31% in February from a year ago, as new power plants ramped up output, preliminary data from online trader mjunction showed, though purchases sank month-on-month on rising prices. Shipments through the 31 coal-handling ports in India, which is about to unseat Japan as the world’s second […]
Essar Energy defends bidding price for coal block in Jharkhand
MUMBAI: Essar Energy’s bidding price for the Tokisud coal block in Jharkhand was part of a Rs 7,600-crore investment in the power to protect its sector, according to a top company executive. The Essar group company’s Rs 1,110-per-tonne bid, the highest by a power company, helped it win the coal block in the recent government […]
Coal India board directs PSU to withdraw from International Coal Ventures Limited
State-owned CIL today said its board has directed the PSU to withdraw from International Coal Ventures Ltd. ICVL is a PSU consortium formed to acquire coal mines overseas. The company also said that its board gave approval for the first year expenditure of Rs 1,019 crore to start the work for setting up MCL’s – […]