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Journalism of Courage
The Union coal ministry has given its nod to a proposal to allow 100 per cent FDI in captive mining for cement and steel. The policy now awaits Cabinet clearance.
On the sidelines of inauguration of the e-commerce platform — coaljunction — Union Coal Secretary P.C. Parakh said the option to allow 100 per cent FDI in captive mining for the two sectors was placed before his ministry for approval. Currently, only 74 per cent FDI is allowed in captive mining here. Earlier, the power sector was allowed 100 per cent FDI in captive mining. The Centre is earmarking 90 blocks with a total production capacity of 180 million tonnes per annum for captive mining across sectors, he said.
The ministry is expediting some of its new projects to bridge the demand-supply gap by the XI Plan. But while this gap at the time is estimated at 90 million tonnes, the additional capacity expected to be created is 40-50 mn. —ENS
