Centre gives Coal India ultimatum on new and existing blocks
KOLKATA: The Centre wants Coal IndiaNSE 0.70 % to speed up exploration and development of all its blocks or return them for auction to private parties or allotment to state-run firms.
These include existing blocks with geological reserves of 110 billion tonnes that are yet to be taken up for production and an additional 110 blocks with reserves of around 40 billion tonnes allotted in 2012.
The government has asked the company to prepare concrete plans in the near future.
