NALCO Bags Utkal D & E Coal Blocks

The aluminium giant of the nation gets back its coal block deallocated after SC’s verdict.

Centre on Tuesday allotted Utkal D & E coal blocks to NALCO. The move has come as a major relief to the company, as the company has already invested around INR 1.26 billion for developing these coal blocks.

NALCO had been trying to convince the centre to allocate these coal blocks back to it since it had already made heavy investment for their development.

It should be noted that tcoal blocks Utkal E & D were allotted to NALCO & OMC respectively in 2004 and 2003. But were later canceled in a SC order in Sept’14 on the grounds of of illegal and extravagant allocation ,resulting in “windfall profit”  to allottees.

With the allotment of these coal blocks, about 200 MnT of coal reserve will be added  to NALCO ‘s coal resource.