Jharkhand Chief Minister Hemant Soren on Tuesday indirectly blamed the Coal India Limited for underdevelopment at the panchayat level, claiming that the company owed Rs 50,000 crore to the state by way of mining compensation.
A Parliamentary Panel has asked the government to allocate 138 coal blocks to state-run Coal India Ltd to help it meet production targets for the current and the next plan period and bridge demand-supply gap.
State-owned Coal India Ltd is
moblising a Rs 1,600 crore funding for two of its ailing firms
-- BCCL and EC -- to take them out of the Board for Industrial
& Financial Reconstruction`s purview in the next two years.
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.
The govt is planning to increase its disinvestment target in Coal India from 10% proposed earlier to 15% as it wants to put a sizeable number of shares in the market and also offer them to employees and farmers displaced by mines.
Facing severe shortage of coal in the country, the government on Thursday authorised an Empowered Committee of Secretaries for considering Coal India Ltd`s proposal to invest and acquire assets abroad.
State-run Coal India on Thursday said it will buy mining assets in four countries-- Australia, Indonesia, South Africa and the US -- at an estimated investment of USD 1-1.5 billion, in a bid to expand its production capacity.