NEW DELHI, June 18: NTPC and Jammu & Kashmir State Power Development Corp Ltd (JKSPDCL), which have been jointly allocated coal block in Odisha, may form a joint venture agreement to develop the mine by this month-end.
The information was conveyed to the Coal Ministry in the meeting held recently under the Chairmanship of Additional Secretary Coal A K Dubey.
“In regard to Kundanali-Luburi coal block in Odisha, allocated jointly to NTPC and J&K State Power Development Corp Ltd… It was expected that JV (Joint Venture) would be formed by the end of June,” according to the note of the meeting.
“…NTPC mentioned that, based on th new Indian Companies Act, the draft proposal on the formation of a Joint Venture agreement had been revised and finalised. Representative of J&K informed that, JKSPDCL would be able to get the approval of the competent authority shortly,” it said.
The Additional Secretary had called a meeting to discuss on the status of creation of JV and the steps being taken on the same.
The coal block in the Talcher coalfield of Odisha — having an estimates reserves of 396.10 million tonnes (MT) — was jointly allocated to both the companies in July last year.
The government had last year allocated 14 coal mines to Central and state PSUs, including four to NTPC.
Other PSUs which have been allocated mines includes Neyveli Uttar Pradesh Power Ltd, Odisha Thermal Power Corp, Chhattisgarh State Power Gen Co Ltd, Andhra Pradesh Generation Co, Maharashtra State Power Generation Co, Rajasthan Vidyut Utpadan Nigam and Punjab State Power Corp Ltd. (PTI)
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