In a deal valued at $1.5 b, state-owned consortium ICVL, GVK,and Reliance Power have shown early interest
VINU LAL & MV RAMSURYA BANGALORE/MUMBAI

Three top Indian companies have joined the race to bid for the coal assets of one of Australia

BHUBANESWAR: The Government today slammed the Centre for the rising cost of the thermal power in the State.

Even as the State is endowed with one-fourth of the coal reserves of the country, the thermal generating power stations, both in Central and State sectors as well as the captive generating plants, are experiencing acute coal shortage due to the discriminatory policies adopted by the Cent

Shortfall in coal supply may touch 269 million tonnes by 2021-22, from the current level of around 80 million tonnes as domestic producers fail to keep up with the growing demand for the commodity.

The demand for coal in 2021-22 is projected to be around 1,353 million tonnes as against the production assessment of 1,084 million tonnes, resulting in a shortfall of 269 million tonnes, said the Co

IN A BID to offset the ever-increasing coking coal prices and widening the gap between demand and supply, industry body, Assocham, has submitted a proposal to encourage new green technologies used in steel production with a view to reduce costs and carbon emissions while improving productivity.

The government is planning to allow developers of ultra mega power projects to use surplus coal from allocated blocks for other projects in which they hold majority stake.

Coal India's production growth is likely to nosedive to less than 1% in the current financial year compared to the projected growth of about 7%, as a number of its projects have been hit by environmental concerns, a top Coal India official has said.

State-owned CIL has set a production target of about 460 million tonnes (MT) for this fiscal.

DB Power is close to raising . 2,625 crore to part-finance its mega power project in Chhattisgarh. The DB Corp subsidiary is developing a 1,200-mw coal-fired mega power plant in the state at an estimated cost of . 3,500 crore. It is raising 75% of the project cost as debt.

The company hopes to sign the credit deal in the next two weeks, with SBI as the sole debt arranger and syndicator.