Coal sector to see major investments: Home Minister
COAL & MINING

Coal sector to see major investments: Home Minister

Union Home Minister Amit Shah has said that state-run and private firms are expected to invest around Rs 4 trillion in India's coal sector this decade. Of this, public sector undertakings (PSUs) will invest Rs 2.5 trillion, in areas such as surface coal gasification, coal bed methane, new coal mining plans, and clean coal projects, Shah said while launching the single-window clearance portal for coal mines.

Shah said that the roadmap is ready for all approvals required for starting a coal mine in India and the coal mine development signing agreements of 19 mines awarded in the first tranche of commercial coal mining auction. The statement comes in the midst of India’s commitment to augmenting clean fuel and to the Paris Accord, whereby 40% cumulative power will be produced using non-fossil resources.

Around 19 major approvals or clearances such as grant of mining lease, mining plan and mine closure plan, wildlife clearance, environment and forest clearances, clearances related to safety, environment, rehabilitation of project affected families and workers' welfare among others are required before starting a coal mine in the country.

In the last 10 tranches, India has offered 116 coal mines for auction. A total of 19 coal mines spread across Jharkhand, Madhya Pradesh, Odisha, Chhattisgarh and Maharashtra were auctioned in the country's first commercial coal mine auction, with the winning bids quoting a 27% average revenue share or premium over and above the floor price. The highest premium bid was 66.75%.

India's first commercial coal mine auctions began in November. As per the two-stage auction process, a bidder must quote the percentage revenue share over the reserve price. There are no restrictions on the sale and utilisation of coal from these mines. Previously, blocks were allocated to companies on payment of fixed amounts per tonne.

Image Source

Union Home Minister Amit Shah has said that state-run and private firms are expected to invest around Rs 4 trillion in India's coal sector this decade. Of this, public sector undertakings (PSUs) will invest Rs 2.5 trillion, in areas such as surface coal gasification, coal bed methane, new coal mining plans, and clean coal projects, Shah said while launching the single-window clearance portal for coal mines. Shah said that the roadmap is ready for all approvals required for starting a coal mine in India and the coal mine development signing agreements of 19 mines awarded in the first tranche of commercial coal mining auction. The statement comes in the midst of India’s commitment to augmenting clean fuel and to the Paris Accord, whereby 40% cumulative power will be produced using non-fossil resources. Around 19 major approvals or clearances such as grant of mining lease, mining plan and mine closure plan, wildlife clearance, environment and forest clearances, clearances related to safety, environment, rehabilitation of project affected families and workers' welfare among others are required before starting a coal mine in the country. In the last 10 tranches, India has offered 116 coal mines for auction. A total of 19 coal mines spread across Jharkhand, Madhya Pradesh, Odisha, Chhattisgarh and Maharashtra were auctioned in the country's first commercial coal mine auction, with the winning bids quoting a 27% average revenue share or premium over and above the floor price. The highest premium bid was 66.75%. India's first commercial coal mine auctions began in November. As per the two-stage auction process, a bidder must quote the percentage revenue share over the reserve price. There are no restrictions on the sale and utilisation of coal from these mines. Previously, blocks were allocated to companies on payment of fixed amounts per tonne. Image Source

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?