Chhattisgarh ends iron ore mining deal with Adani Group

29 Sep 2023 CW Team

The NMDC-CMDC, operating as a joint venture entity with NCL, made the decision to terminate the iron ore mining services agreement that had been previously signed with Adani Enterprises (AEL). The termination was based on the fact that AEL did not take the necessary steps outlined in the contract to meet the specified conditions and objectives. The termination specifically pertained to the allocation of the Bailadila iron ore Deposit-13 in south Chhattisgarh?s Kirandul region to AEL. The competent authority of NMDC-CMDC reviewed the terms and conditions of the agreement and assessed AEL's response to the show cause notice, which had been issued on July 11 as grounds for termination. The response from AEL was deemed unsatisfactory and insufficient, as it did not address the concerns raised in the notice. NMDC-CMDC stated that AEL's reply lacked confidence and failed to demonstrate the company's commitment to taking the necessary actions. Regarding AEL's response, the chief executive officer of NCL stated in the termination order that blaming NMDC-CMDC for the failure was not accurate and amounted to misinformation. As a result, the iron ore mining service agreement, dated December 6, 2018, was officially cancelled. The group spokesperson stated that they had fulfilled their obligations diligently since being awarded the contract in 2018, but due to the provisions of the agreement and the current circumstances, they refrained from making any statements at that time. It's worth noting that the allocation of Bailadila Deposit-13, which had a mining capacity of 10 metric tons per annum, had already faced opposition. In June 2019, tribal villagers protested, claiming that the allocated deposit held significant cultural and religious importance as the centre of their faith, with the presence of the deity Nandraj Dev in the region. Consequently, the Chhattisgarh government halted the project work in response to these concerns.

Infrastructure Energy

22 Oct 2025

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..