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
Infrastructure Urban

Consistent reforms will foster growth and reduce investor risk

Incorporated in 1986 as a wholly owned subsidiary of State Bank of India, SBI Capital Markets Ltd (SBICAPS) is a SEBI-registered Category I merchant banker and research analyst. It offers the entire bouquet of investment banking and corporate advisory services under one umbrella, covering project advisory and structured financing, capital markets, mergers and acquisitions, private equity, ESG advisory, startup advisory and stressed assets resolution. Headquartered in Mumbai, SBICAPS has seven regional offices of which six are in India (Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata and New ..

Next Story
Infrastructure Urban

Adani Group Invests $240M in Global Skills Academy

The Adani Group has announced a partnership with ITE Education Services (ITEES) of Singapore to establish a world-class talent pipeline for industries such as Green Energy, Manufacturing, Hi-tech, Project Excellence, and Industrial Design. The initiative will see an investment of over $240 million by the Adani family to set up internationally benchmarked schools of excellence, named Adani Global Skills Academy. These finishing schools will train students from technical and vocational backgrounds, equipping them with industry-relevant certifications. Graduates will have employment opportunities..

Next Story
Infrastructure Urban

Swiggy to Invest $120M in Scootsy for Expansion

Food and grocery delivery giant Swiggy Ltd announced on Friday that it will invest up to $120 million in its wholly owned subsidiary Scootsy Logistics in one or more tranches. Scootsy specializes in supply chain services and distribution, including warehouse management, in-warehouse processing with value-added services, and order fulfillment for wholesalers and retailers. "We wish to inform that the Board of Directors of the company, at its meeting held on Friday, February 21, 2025, has approved the investment by the company in the equity shares of Scootsy Logistics Private Limited, a wholly..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?