With the advice of IMG (Inter-Ministerial Group), the Coal Ministry decided to cancel another 14 Coal blocks.
IMG is a body which suggests corrective measures for Coal block holders. It was formed by the government last year to review Coal blocks progress, allocated to firms for captive use and recommend action, including de-allocation. The IMG having member’s from Ministry/Department of Power, Steel, Industrial Policy & Promotion, Legal Affairs and Economic Affairs.
The Coal Ministry decided to cancel another 14 coal blocks, as there was no substantial progress in development of Coal block and it was found unsatisfactory. Those blocks belong to ArcelorMittal, Hindalco, Tata Power, Reliance Energy, GMR, Lanco, Jindal Steel & Power and Sterlite.
“The Coal Ministry has issued letters of cancellation for 14 blocks. While half blocks are placed for immediate de-allocation and rests have been put on hold because of interim orders from court”, said by Coal Ministry’s official.
The 26th meeting of Inter-Ministerial Group (IMG) under the chairmanship of additional secretary will be held on 25 Feb, 2014 to consider 10 more blocks that are yet to get Environmental Clearance belongs to Essar Power, Tata Steel, JSPL, JSW Steel, DB Power etc.
Some of the companies had invested a huge amount of money on Coal based plants, produced from the captive mines. Rampia Coal block allocated to Lanco, Sterlite Power, GMR Energy, Navbharat Power, ArcelorMittal and Reliance Energy. IMG had recommended cancellation but the decision was put on hold in view of an interim order from the Court.
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