Jindal
Steel & Power Ltd (JSPL) hopes to start development of the Ramachandi coal
block allocated for its Rs 60,000-crore ambitious coal-to-liquid (CTL) project
within a year.“We expect to sign the MoU with the state government soon for the
CTL project. Once the MoU is ready, we can start work on the coal block in a
year†said Naveen Jindal, chairman JSPL .
The CTL project that envisages a production
capacity of 80,000 barrels of oil per day is coming up at Durgapur in Angul
district.The draft MoU to be signed with JSPL is ready. It has been decided
that the MoU tenure shall be for nine years with a clause that after every
three years, the project will be reviewed. The company has to submit milestones
to be achieved in three years and in six years to the industries department.
The
CTL project needs 4000 acres of land. A host of milestones have to be achieved
within three years from the date of MoU execution- finalisation of land and
water assessment by state owned Industrial Promotion & Investment
Corporation of Odisha Ltd (Ipicol), securing prospecting license for Ramchandi
coal block allocated for the project, exploration of the coal block and
commencement of land acquisition activities.
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