India to save Rs.30k cr on imports by allowing commercial coal mining: CRISIL
The Dollar Business Bureau The Government’s move to allow commercial mining of coal by private sector will not only enhance production but also help in cutting the import bill by around Rs.30,000 crore, through substitution of imported non-coking coal with local production, according to the global rating agency CRISIL. Last month, the Cabinet Committee on Economic Affairs (CCEA) has approved the methodology for auction of coal mines/blocks, under the Coal Mines Act, opening up the commercial coal mining for private sector. “The move to allow the private sector to commercially mine coal will boost both production and mining efficiency. Moreover, the substitution of imported non-coking coal with domestic production could save roughly Rs.30,000 crore of coal imports,” CRISIL said in a statement. At present, ...
Commercial mining of coal to reduce dependence on imports: FICCI
The Dollar Business Bureau Industry association Federation of Indian Chambers of Commerce and Industry (FICCI) welcomed the Government decision for allowing commercial mining of coal and said that it will support ‘Make in India’ initiative and reduce the country’s dependence on coal imports. The Union Cabinet on Tuesday cleared a process of bidding for commercial mining after four years after enabling the sale and commercial mining of coal through the Coal Mines (Special Provisions) Ordinance, 2014. “FICCI welcomes Cabinet approval to introduce commercial mining of coal and sees it as a landmark policy decision that will change the face of Indian Coal Sector by ushering in rebalancing of prices and market dynamics riding on efficient and large-scale mining,” the industry association said in a statement on Wednesday. It considers that ...
JSW Energy signs MoU to set up thermal power plant in Swaziland
The Dollar Business Bureau JSW Energy Ltd. on Monday signed a Memorandum of Understanding (MoU) to establish a thermal power plant and related project in Swaziland. The India-based energy giant signed an agreement with the Swaziland Electricity Company (SEC) and the Swaziland government to set up plant with an aim to facilitate energy security and make Swaziland self-reliant in power by exploiting the resources available in the country. “The capacity of the power plant to be set up will be decided by JSW Energy in consultation with SEC based on the coal resources found during the exploration of an area of approximately 16,000 hectares to be prospected by JSW Energy under a prospecting license granted to them,” JSW Energy said in a statement. The ...
Poland, India to ink pact on cooperation in coal mining
The MoU for both the countries would be for providing machinery, knowledge sharing and technology in underground mining from Poland Source: PTI Poland has been active in coal mining for over 100 years, but in the last few years it was affected due to subsidised pricing of the commodity in the global market. The Polish government is hopeful of signing a pact with India for cooperation in coal mining and related fields to achieve a common goal in the next two months. Polish deputy minister of economic development Radoslaw Domagalski-Labedzki today said the subject was discussed in a meeting with India's coal secretary Anil Swarup. Speaking on the sidelines of an ICC-organised programme here, the minister said that his government possesses a ...
