Coal India To Open Cooperation With Other Companies To Develop A Coal Mine Blocks
December 22nd, 2009 | File Under : Coal - Companies - Mining Exploration
Some time ago Steel Authority of India Ltd (SAIL) and Tata Steel on the government’s request to allocate a block of Indian coal mines managed by CIL.
Chairman of Coal India Ltd. (CIL) said, little was ready to develop coking coal blocks together Tata Steel. Coking coal blocks to be developed in conjunction with a small coal blocks with reserves of 7 million tons. As for coking coal blocks to be developed together with SAIL is a coal mining blocks 7-8.
Here is the statement delivered by, the Chairman of Coal India Ltd. (CIL) Partha. S. Bhattacharya, “We have identified a coking coal blocks with reserves of 7 million tons, under the command area of Bharat Coking Coal Ltd (BCCL), which will be developed jointly with Coal India and Tata Steel. We will not hand over any block to any company. We are open to working with them together under some arrangement “.
Coal India is also in talks with SAIL to develop another 7-8 blocks, he added.
Coal mines has shortlisted 12 companies to form partnerships to import coal mines and develop properties abroad, Bhattacharyya said.
“We will start the final selection today, and the entire process expected to be completed in March 2010,” he said.
Small production in the current financial year is expected to touch 435 million tonnes from 403.73 million tonnes last year, he added.
Coal India, which plans an initial public offering next fiscal, plans to invest up to 30 billion rupees in the domestic stock and mining projects internationally, he said.
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