Business Daily from THE HINDU group of publications
Thursday, Mar 06, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Mar 06, 2008 ePaper | Mobile/PDA Version |
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Corporate
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Outlook Industry & Economy - Coal CIL awaits Govt nod on Jharia Action Plan Our Bureau New Delhi, March 5 Public sector coal major Coal India Ltd (CIL) has said that it is awaiting the Government’s approval on Jharia Action Plan to contain fire and make the coalfields worthy of meeting the growing needs of the steel industry. “We are awaiting the Cabinet clearance on the Jharia Action Plan. There are at least 70 places within the Jharia coalfields which are on fire and we have to ensure suitable rehabilitation of nearly 4 lakh people to other locations before we can mine the area,” Coal India Ltd Chairman Mr Partha S. Bhattacharya said here. He added that shifting the people will be a massive exercise and would require political will. The company expects to contain the fire within 10 years and commence operations by 2020. Mr Bhattacharya said that once the approval was obtained then the company would commence activities for nine opencast coal projects to help meet the requirements of the steel industry. “If the Action Plan was implemented by 2031, then at least 50 per cent of the needs of the domestic steel companies would be met,” he said. Mr Bhattacharya pointed out that the Bharat Coking Coal Ltd (BCCL) was trying to wriggle out of its fiscal muddle and that its coal production has slide to 4 million tonnes from 10 million tonnes. “Pending adequate production of domestic coking coal, steel companies would have to depend on imports to meet their production needs,” he said. Mr Bhattacharya said the Coal Ventures International, the SPV formed by leading mineral and metal PSUs, is also trying its best to secure both coking and thermal coal for the power and steel companies. More Stories on : Outlook | Coal
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