20 SEP, 2012, ET BUREAU
NEW DELHI: An official panel reviewing coal blocks development has suggested scrapping mining licences of three coal blocks owned by eight companies, including Electrosteel Castings, Rungta Mines and Maharashtra Seamless, an official statement said on Wednesday.
The inter-ministerial group (IMG) also recommended deduction of bank guarantee of four companies - Arcelor Mittal, GVK Power, Jayaswal Neco and DB Power - for slippages in development of three blocks, it said.
The de-allocated blocks include North Dhadu allotted to Electrosteel Castings, Pawanjay Steel & Power and Jharkhand Ispat in 2006; Choritand Tailaya block allotted to Sunflag Iron & Steel and Rungta Mines in 2008 and Gondkhari allotted to Maharashtra Seamless, Dhariwal Infrastructure and Kesoram Industries in 2008.
Till Wednesday, the IMG recommended de-allocation of 11 captive mines. The panel will meet on Thursday to review two mines given to companies like Grasim Industries and IST Steel & Power.
IMG recommended deduction of bank guarantees of Seregarha block given to Arcelor Mittal and GVK Power; Moitra block allotted to Jayaswal Neco; Dumri block given to Neelachal Iron & Steel and Durgapur II/ Sariya block allotted to DB Power, the statement said.
The ministerial review panel recommendations to the coal ministry are based on presentations made by the 29 private companies earlier this month and status report of its Kolkata-based monitoring wing.
The coal ministry had in April issued notices to 58 block owners for not meeting specified developmental milestones. The IMG is soon expected to invite state-owned firms for presenting status reports of their coal blocks.
NEW DELHI: An official panel reviewing coal blocks development has suggested scrapping mining licences of three coal blocks owned by eight companies, including Electrosteel Castings, Rungta Mines and Maharashtra Seamless, an official statement said on Wednesday.
The inter-ministerial group (IMG) also recommended deduction of bank guarantee of four companies - Arcelor Mittal, GVK Power, Jayaswal Neco and DB Power - for slippages in development of three blocks, it said.
The de-allocated blocks include North Dhadu allotted to Electrosteel Castings, Pawanjay Steel & Power and Jharkhand Ispat in 2006; Choritand Tailaya block allotted to Sunflag Iron & Steel and Rungta Mines in 2008 and Gondkhari allotted to Maharashtra Seamless, Dhariwal Infrastructure and Kesoram Industries in 2008.
Till Wednesday, the IMG recommended de-allocation of 11 captive mines. The panel will meet on Thursday to review two mines given to companies like Grasim Industries and IST Steel & Power.
IMG recommended deduction of bank guarantees of Seregarha block given to Arcelor Mittal and GVK Power; Moitra block allotted to Jayaswal Neco; Dumri block given to Neelachal Iron & Steel and Durgapur II/ Sariya block allotted to DB Power, the statement said.
The ministerial review panel recommendations to the coal ministry are based on presentations made by the 29 private companies earlier this month and status report of its Kolkata-based monitoring wing.
The coal ministry had in April issued notices to 58 block owners for not meeting specified developmental milestones. The IMG is soon expected to invite state-owned firms for presenting status reports of their coal blocks.
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