Govt has allocated 75 coal mines for end-users: Goyal

The Government has allocated 75 coal mines for specified end users.

The Dollar Business Bureau 

The Government has allocated 75 coal mines (44 coal mines through allotment and 31 coal mines through e-auction) for specified end uses, a senior government official said on Monday.

“The expected revenue of these 75 coal mines, which shall accrue to the coal bearing states under Coal Mines (Special Provisions) Act, 2015 is estimated at more than Rs. 3.53 lakh crores during the life of mine/lease period,” Coal Minister Piyush Goyal said in a written reply to Rajya Sabha.
The government estimates the total revenue from the e-auction of 31 coal cines to be Rs.1,96,698 crores.

It has already generated Rs.2,237 crore revenue from the allocation of 74 coal mines as on May 31.

Meanwhile, the off-take of Coal India Ltd. stood at 534.50 million tonnes compared to coal production of 538.75 million tonnes in the 2015-16 fiscal.

The Coal Minister also informed that no power generation firm was in critical condition due to scarcity of coal in the domestic market. Coal imports fell to 199.9 million tonnes in 2015-16 from 217.8 million tonnes in 2014-15.

CIL is planning to produce more coal, as it plans to produce 598.61 million tonnes of coal in 2016-17, thereby registering a growth rate of 11.11% over 2015-16.  

The Dollar Business Bureau - Jul 25, 2016 12:00 IST