Monday, Dec 22, 2014

Inter-Ministerial Group to meet next week to review bank guarantees of 61 coal blocks

Coal Block It will be the IMG's first meeting since the new government has taken charge last month after the general elections.
By: Press Trust of India | New Delhi | Posted: June 3, 2014 5:28 pm | Updated: June 3, 2014 5:32 pm

The inter-ministerial group on coal blocks is likely to meet next week on the issue of bank guarantees related to 61 mines allocated to companies such as ArcelorMittal, Tata Steel and Jindal Steel and Power.

It will be the IMG’s first meeting since the new government has taken charge last month after the general elections.

Piyush Goyal has been appointed Minister of State (Independent Charge) for coal, power and new & renewable energy.

“The IMG (Inter-Ministerial Group) under the Chairmanship of Additional Secretary coal will be held on June 10…to undertake the review of the issue of bank guarantee of the coal blocks which were reviewed in the 24th meeting,” according to meeting notice.

Some of the coal blocks reviewed in the February 7-8 meeting are Moitra mine allocated to Jayaswal Neco Ltd, Seregarha mine jointly alloted to ArcelorMittal and GVK Power, Ganeshpur mine jointly alloted to Tata Steel and Adhunik Power and Natural Resources Ltd and Jitpur block allocated to JSPL.

The Coal Ministry had in February decided to deallocate around 30 coal of companies like JSPL, AreclorMittal and Sterlite Energy for delays in developing the mines allocated to them for captive use.

It followed the IMG recommendations which had suggested the deallocation of mines.

The panel on coal blocks had reviewed the progress of development of 61 coal blocks.

The panel also reviewed 10 coal blocks of companies including JSPL, Tata Steel and JSW Steel and gave them 8-9 months to obtain stage II forest clearances.

comments powered by Disqus