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News Brief | January 2013

Coal ministry de-allocates 4 PSUs' coal blocks in Odisha

The Union coal ministry has decided to de-allocate a coal block in Odisha which is jointly allocated to four PSUs, including Odisha Mining Corp and Assam Mineral Development Corp for delay in production. The recommendation of IMG (Inter-Ministerial Group) through a letter has been considered and accepted by the government. Accordingly, Mandakini B coal block is deallocated, the letter said. The Ministry also said in the letter that a Bank Guarantee (BG) to the extent of Rs 48.7 crore i.e. 50 per cent of the BG related to the development of the coal block be invoked and deposited with the government. Other PSUs to which the coal block was allotted are Meghalaya Mineral Development Corp and Tamil Nadu Electricity Board. Mandakini B coal block was allotted in 2007 to the PSUs to meet the coal requirements of their respective proposed power plants.

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