“Coal Sector Boost: Vesting Orders for Six Mines, Agreements Inked for Two in Latest Milestone”
New Delhi: In a significant move towards achieving self-reliance in the coal sector, the Ministry of Coal has taken decisive steps by issuing Vesting Orders for six commercial coal mines and signing agreements for two more. This initiative is part of the government’s larger vision to make the country Atmanirbhar (self-reliant) in the crucial coal industry.
According to the government released, out of the six mines for which Vesting Orders were issued, two are fully explored, while the others are partially explored. The cumulative Peak Rated Capacity (PRC) of these six mines stands at 7.00 million metric tonnes per annum (MTPA), boasting a substantial Geological Reserve of 2,105.74 million tonnes (MT).
Anticipated to generate an annual revenue of Rs. 787.59 crores, based on the PRC, these mines are set to attract a capital investment of Rs. 1,050 crores and provide employment opportunities for 9,464 individuals, both directly and indirectly.
Additionally, Coal Block Development and Production Agreements (CBDPA) were formally signed for the two fully explored mines, marking a crucial milestone in their operationalization.
Coal Secretary Amrit Lal Meena extended congratulations to the successful bidders and urged them to expedite the coal block’s operationalization, assuring full support from the Ministry of Coal in obtaining necessary clearances.
This latest development brings the total number of coal mines for which vesting orders have been issued to 80, with a cumulative PRC of 151.50 MTPA. This concerted effort is projected to contribute significantly to state governments, generating an annual revenue of Rs. 23,596.75 crores, calculated on the basis of the PRC of the coal mines.
Moreover, it is expected to create employment opportunities for a substantial 2,04,821 people, both directly and indirectly, fostering economic growth and self-sufficiency in the coal sector.