CIL shortlists 10 cos for developing 18 abandoned mines
New Delhi: State-run Coal India Ltd Monday said it has shortlisted 10 global companies, including steel giant ArcelorMittal, to develop its 18 abandoned mines, which have 1.6 billion tonnes of proven coal reserves.
"We have shortlisted 10 global companies, including ArcelorMittal, to develop 18 difficult mines abandoned due to technical reasons in Jharkhand and West Bengal. These have 1.6 billion tonnes reserve of superior great coal, including 350 million tonnes of coking coal," Coal India Chairman Partha S Bhattacharyya told reporters on the sidelines of a summit here.
He said that the production from these mines is likely to start by 2013-14.
"Production from these mines will take three years from signing of contract. We are hopeful of signing contract with one or two companies in this financial year while the
remaining will be signed next fiscal," he said.
Bhattacharyya said that clearance for signing of contracts is expected from the Coal Ministry soon.
He said that the joint ventures with companies with a provision of giving 50 per cent coal to the joint venture partner is strictly not in line with the new coal policy.
"New coal policy does not have a provision of joint venture partner picking up 50 per cent of coal and that is why the clearance is needed," Bhattacharyya added.
Download the all new Zee News app for Android and iOS to stay up to date with latest headlines and news stories in Politics, Entertainment, Sports, Technology, Business and much more from India and around the world.
More from India
More from World
More from Sports
More from Entertaiment
- Video: India won't tolerate disrespect to national anthem – this Mumbai family learnt it the hard way
- Watch: Boy dies after falling from a Mumbai local train – video maker is guilty too!
- Had Sardar Patel become PM, India would have been another Pakistan, says Kancha Ilaiah
- Watch: ISIS terrorist blown into pieces while bragging about his previous victory
- Shocking! World Cup winning cricketer forced to sell 'kachoris' to make a living