> The central government has allotted sole operatorship rights to West Bengal for India’s largest coal block Deocha-Pachami situated in the state’s Birbhum district.
Reportedly, the state government has planned a proposed investment of INR 12,000 crore to develop the mine, which can generate one lakh jobs and act as growth engine for rapid economic development of the entire region. The huge block will produce coal worth over INR 2 lakh crore with estimated reserves of 2,102 million tonnes.
Bengal chief minister Mamata Banerjee has already created a Special-Purpose Vehicle (SPV) — Bengal Birbhum Coalfields Limited (BBCL) — for the project. SPV is a subsidiary of a company which is protected against bankruptcy from the parent organization.
Besides Bengal, five states – Karnataka, Bihar, Punjab, Tamil Nadu and Uttar Pradesh – along with public sector undertaking Satluj Jal Vidyut Nigam Limited (SJVNL) are stakeholders in the company. Bengal would get the biggest share of the coal – 584 million tonne – from the block because it holds a majority 27.8% stake.
> mjunction services limited., a joint venture between Steel Authority of India Ltd (SAIL) and Tata Steel for digitized coal distribution, has successfully eTransacted 1.94 lakh metric tons of coal to micro, small and medium enterprises in Maharashtra in its first year of operation. This translates to a transaction value of around INR 4,800 lakhs.
The Maharashtra Government appointed Maharashtra State Mining Corporation (MSMC) as the state nominated agency (SNA) for web-enabled e-distribution of coal to MSMEs in a fair manner.
Maharashtra is the most successful state in India in terms of volumes of coal booked and allocated, according to Vinaya Varma, CEO of mjunction.
Further, 93% of the total coal offered by Coal India to Maharashtra have been booked by MSMEs through the online platform.
Reportedly, business volume of the company in terms of transaction value has increased from INR 94.35 crore in FY02 to INR 1,34,138 crore in FY17.
Recently, mjunction has also won the mandate from Bihar State Mining Corporation for e-distribution of coal to MSMEs of Bihar.
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