Centre deallocates coal block allotted to PFC arm for power project
The Centre has deallocated a coal block in Odisha allotted to a wholly-owned arm of Power Finance CorporationNSE -4.25 % (PFC) for a 4000 MW power project on account of delays in the development of the mine.
“It has noted that even after lapse of nine years since allocation of the coal block (Bankhui), no progress has been made to operationalise the coal block…It has been decided, with the approval of the competent authority, to deallocate Bankhui coal block that was allotted in favour of Sakhigopal Integrated Power Company Ltd (a wholly-owned subsidiary of PFC),” the coal ministry said in a letter to the managing director of Sakhigopal Integrated Power Company Ltd.
