Nearly a dozen companies including Tata Sons, Jindal Steel & Power, Birla Corp and Monnet Ispat & Energy are likely to lose captive coal mining licences for delaying development of the blocks.
An inter-ministerial group has recommended revoking the licences of 11 mines with over 4.5 billion tonnes of reserves in states of Odisha, Chhattisgarh, Jharkhand, Madhya Pradesh and Maharashtra.
"The panel has recommended de-allocating three coal blocks of Jindal Steel & Power and two coal blocks of Monnet Ispat for unsatisfactory progress. Two big blocks allocated to Jindal Steel & Power and Tata Sons for country's pilot coal-to-liquid (CTL) projects are also proposed to be de-allocated since the companies have not done any work on the blocks," a senior official in the coal ministry said.
Strategic Energy Technology Systems — a consortium of Tata Sons and Sasol Synfuels International (Proprietary) of South Africa — was awarded North of Arkhapal block for CTL project. Jindal Steel & Power was awarded Ramchandi Promotional block for another such project. Each project entails an investment of aboutRs 45,000 crore.
The panel made its recommendations after it reviewed 30 blocks and heard the companies' explanations for delayed development. "During their presentations most companies blamed the central and state authorities for non-cooperation. We are, however, in favour of cancelling the licences as under the law companies are solely responsible for developing the blocks," the official said Other companies that are set to lose mines are Rungta Mines, Dalmia Cement, Sunflag Iron & Steel, Topworth Steel and Maharashtra State Mining Corp, he said.
The panel, headed by coal additional secretary A K Dubey, has also recommended imposition or deduction of bank guarantees on companies like NTPCBSE 0.45 %, Steel Authority of India and Tenughat Vidyut Nigam. No action has been recommended against three other coal blocks — Mandakini A belonging to Tata PowerBSE 1.65 %, Jindal Photo, Monnet Ispat & Energy; Mandla North of Jaiprakash Associates and Sondiha of Chhattisgarh Mineral Development Corp.
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