Opening Coal Sector For Pvt Cos To Boost FDI: Anil Agarwal

Opening Coal Sector For Pvt Cos To Boost FDI: Anil Agarwal

Mining mogul Anil Agarwal today welcomed the Centre’s decision to open up coal mining to the private sector for commercial use and said the move will usher in much needed competition and increase domestic and foreign direct investment in the sector.

a This is a path breaking and bold reform by the government. Opening the coal sector for private players will usher in much needed competition, increase domestic and FDI investment in the sector, drive in efficiencies, as well as help in stabilising the irregularities in coal supplies and linkages,” the Vedanta Group chairman said in a statement.

The move will go a long way in making the entire coal sector vibrant and transparent, he said.

“Some of the most evident benefits of this measure would be enhanced energy sufficiency for India and availability of power at lower costs for the end consumer; also thousands of jobs will be created in the process,” he added.

Anjani Agrawal, Partner and National Leader a Metals and Mining, EY said that opening the coal sector to commercial mining was a welcome step that would accelerate adoption of technology, productivity and competitiveness into the coal sector. Read More…

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