The loss of two coal blocks for the second time following a Delhi High Court judgement last week has put the investments of Jindal Power Limited (JPL) under stress. The company could lose around Rs 170 crore invested in the coal washery and a conveyor belt associated with the Gare Palma-IV/2&3 coal block in Jharkhand.
The government has decided not to set up any committee to take a decision on the matter. The high court had asked the government to consider setting up a committee for overseeing operations at the mines. “No committee is needed for this. The HC has clearly supported our stand. Coal India is mining coal from the block. We would not re-auction the mine as currently there is no demand for power sector coal mines,” said a senior coal ministry official requesting anonymity.
Another official said that the government might ask the company to dismantle the attached mining infrastructure as the state-owned Coal India is mining coal from it. Read More…
Credit By : Business Standard.com
Latest posts by Business-Standard.com (see all)
- Power Grid acquires project SPV Bhuj-11 Transmission - October 18, 2019
- ONGC, Oil India bank on private players to boost production by end of FY20 - October 17, 2019
- HCL Tech to invest Rs 7.5 bn in Andhra Pradesh, create 7,500 jobs in 10 yrs - October 17, 2019