Jindal Steel and Power bags two coal blocks in Odisha
Steel

Jindal Steel and Power bags two coal blocks in Odisha

Steel major Jindal Steel and Power Limited (JSPL) won two coal blocks for the purpose of commercial coal mining in Odisha by offering a revenue share of 15.25%.

As per an official statement, Utkal B1 and B2 are the coal blocks having geological reserves of 347 million tonnes (mt) along with a peak rated capacity of 8 million tonnes. Twenty First Century Mining Private Limited has won a coal mine in Jharkhand by offering a revenue share of 6%. The Rabodih OCP coal block comprises geological reserves of 133 mt along with a peak rated capacity of 2.50 mt.

BS Ispat has won the Chinora coal mine in the state of Maharashtra by offering a revenue share of 53%. The mine comprises geological reserves of 18 mt along with a peak rated capacity of 0.26 mt.

According to the statement, four coal mines were put up for auction under the CMSP Act on the first day of the e-auction.

The four coal mines have been fully explored. The total geological reserves for the same are 498.10 million tonnes. Cumulative peak rate capacity (PRC) for the four coal mines is 10.76 mt on an annual basis, it said.

Image Source

Also read: JSL profit increases to Rs 5,682.37 crore in Dec quarter

The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com

Steel major Jindal Steel and Power Limited (JSPL) won two coal blocks for the purpose of commercial coal mining in Odisha by offering a revenue share of 15.25%. As per an official statement, Utkal B1 and B2 are the coal blocks having geological reserves of 347 million tonnes (mt) along with a peak rated capacity of 8 million tonnes. Twenty First Century Mining Private Limited has won a coal mine in Jharkhand by offering a revenue share of 6%. The Rabodih OCP coal block comprises geological reserves of 133 mt along with a peak rated capacity of 2.50 mt. BS Ispat has won the Chinora coal mine in the state of Maharashtra by offering a revenue share of 53%. The mine comprises geological reserves of 18 mt along with a peak rated capacity of 0.26 mt. According to the statement, four coal mines were put up for auction under the CMSP Act on the first day of the e-auction. The four coal mines have been fully explored. The total geological reserves for the same are 498.10 million tonnes. Cumulative peak rate capacity (PRC) for the four coal mines is 10.76 mt on an annual basis, it said. Image Source Also read: JSL profit increases to Rs 5,682.37 crore in Dec quarter

Next Story
Infrastructure Urban

Interlinking Rivers (ILR) to Boost Business

India’s ambitious Interlinking of Rivers (ILR) projects could present Rs.2 lakh crore worth of business opportunities for engineering, procurement, and construction (EPC) companies over the next four years, according to ICRA. Four key priority river links are set to generate significant economic growth, with ?80,000 crore directed toward large-scale irrigation projects. Four Priority Projects: The Godavari-Cauvery link is the largest, representing 45% of total expenditure, followed by the Ken-Betwa link, accounting for 21%. Other notable projects include the Kosi-Mechi and Parbati-Kalisind..

Next Story
Infrastructure Transport

SpiceJet Raises Rs.3,000 Crore Via QIP

SpiceJet announced raising Rs 3,000 crore through a Qualified Institutional Placement (QIP) that closed on September 18. The QIP attracted overwhelming interest from prominent institutional investors, reflecting strong confidence in the airline's growth potential. Key investors included Goldman Sachs Singapore, Morgan Stanley Asia, BNP Paribas, Nomura Singapore, and Tata Mutual Fund. In addition to the QIP, the airline will receive Rs.736 crore from a prior funding round, further enhancing its financial position. The funds will be utilized to operationalise grounded aircraft, acquire new plan..

Next Story
Infrastructure Transport

India’s Exporters Face Freight Challenges

India’s exporters are grappling with steep freight rates, container shortages, and limited shipping space, according to foreign container shipping lines. While freight rates have eased, dropping by 30-40% for shipments from India’s east coast to Europe and the U.S., exporters continue to face hurdles. Freight rates to the U.S. are now between $4,300 and $4,500 per twenty-foot equivalent unit (TEU), down from $5,500-$6,000, while rates to Europe have decreased to $3,000-$3,200 per TEU. These reductions are partly due to the conclusion of the Christmas season cargo rush, where large volumes..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000