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Coal India Ltd
Coal India Ltd (CIL) has been given freedom to pass mine closure costs on to consumers, but has not taken any such step yet, a company official said on Monday. The Maharatna PSU may consider "levying an additional fee on per tonne basis to be paid by the coal consumers to meet the cost of mine closure with the approval of the board and to provide funding for those subsidiaries which are not able to fund the closure of these mines", an official said quoting a Coal ministry notification. "Coal India has not taken any decision about levying such charges on coal sales as of now," the official said. The Kolkata-headquartered company has created a provision of Rs 7,238 crore as on March 2022 and incurred Rs 494 crore on mine closure during 2021-22, its annual report stated. The miner had produced 622 million tonnes of coal in 2021-22 and was pursuing a target of 700 million tonnes in the current fiscal. "As per guidelines, typically mine closure cost is around Rs 9 lakh/hectare for open
Union Coal Minister Pralhad Joshi on Thursday said to meet the coal requirements of the country, it is necessary that all subsidiaries of Coal India Ltd (CIL) achieve their annual targets. Joshi visited Western Coalfields Ltd headquarters in Nagpur and attended various programmes, said a press release issued by WCL. Western Coalfields Ltd (WCL) is one of the eight subsidiary companies of CIL, a central PSU. The minister also presided over a review meeting and took stock of the production, productivity and coal dispatch status of WCL, said the release. Chairman-cum-Managing Director of WCL Manoj Kumar briefed the minister on coal mining activities and assured the company would achieve the production target by the year-end. In order to meet the coal requirements of the country, it is necessary that all CIL subsidiaries achieve their annual targets, the release quoted Joshi as saying. He said to make the country self-reliant in the coal sector, it is necessary to strengthen the ...
Coal India Ltd (CIL) will set up a 1,190-MW solar power plant in Bikaner district of Rajasthan. For this, the CIL signed a Memorandum of Understanding (MoU) with the Rajasthan Vidyut Utpadan Nigam Ltd (RUVNL). The solar plant will be set up in a 2,000-MW solar park being developed by RVUNL in Poogal, Bikaner. The state government has allotted 4,846 hectare land to develop the park in which the RVUNL will set up its own solar project of 810 MW, and a power project of 1,190 will be set up by the CIL. Chairman and Managing Director of RVUNL R K Sharma and CIL's Technical Director V Reddy signed the MoU in the presence of Union Coal Minister Pralhad Joshi and Rajasthan Chief Minister Ashok Gehlot here.
Coal India Ltd chairman Pramod Agrawal on Tuesday said the miner has not raised prices of the dry fuel in the last four years to ensure its supply at competitive prices to consumers compared to the international market. He also said that the CIL is trying to list subsidiaries Bharat Coking Coal Ltd (BCCL) and Central Mine Planning and Design Institute (CMPDI) but asserted that there was no question of demerging them. The company has a total of eight subsidiaries. Addressing shareholders at the company's 48th AGM, Agrawal said that the CIL is committed to increasing its production and supplies to the mandated levels to ensure that the country gets power at a "just" price. Coal India meets 80 per cent of the country's dry fuel requirement. At a time when international coal prices are much higher, Coal India continues to supply its coal to Indian consumers at highly competitive prices, with no price increase over the last four years," Agrawal said in his address. Later replying to .
Adani Power on Friday said it will acquire DB Power Ltd, which owns and operates a 2 x 600 MW thermal power plant at district Janjgir Champa in Chhattisgarh, at an enterprise value of Rs 7,017 crore for cash consideration. DB Power has long- and medium-term power purchase agreements for 923.5 MW of its capacity, backed by fuel supply agreements with Coal India Ltd, and has been operating its facilities profitably, it added. "Adani Power Ltd has agreed to acquire DB Power Limited ("DB Power"), which owns and operates a running 2x600 MW thermal power plant at District Janjgir Champa in Chhattisgarh," the company said in a BSE filing. The cost of acquisition will at enterprise value of Rs 7,017 crore, subject to adjustments on the closing date, for cash consideration. Adani Power will acquire 100 per cent of the total issued, subscribed and paid up equity share capital and preference share capital of Diliigent Power Private Limited (DPPL). DPPL is the holding company of DB Power, and