').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Coal India's 7 Projects To Be Developed By MDOs For Import Reduction
State-owned CIL on Wednesday said it has issued orders for seven coal projects to be developed by mine developer and operators (MDOs)
Topics
Coal India | Coal Supply | Coal imports
State-owned CIL on Wednesday said it has issued orders for seven coal projects to be developed by mine developer and operators (MDOs).
The objective of engaging MDOs through open global tenders is to augment domestic coal production and reduce reliance on import to extent possible.
"Coal India Limited (CIL) has issued letters of acceptance for seven coal projects to be pursued through engagement of Mine Developer and Operators," the maharatna firm said in a statement.
Of these seven projects, three belong to CIL arm Central Coalfields Ltd (CCL) and two to Mahanadi Coalfields Ltd (MCL)--another subsidiary of CIL.
South Eastern Coalfields Ltd and Eastern Coalfield Ltd account for a solitary project each.
The coal behemoth is tracking a total of 15 new coal projects to mine coal through MDOs. CIL will invest Rs 20,600 crore on land acquisition, rehabilitation and resettlement issues, and in some cases on railway sidings as well.
The role of MDOs would be to excavate, extract and deliver coal to the companies in accordance with the approved mining plan. Ownership of the mines and coal rests with CIL.
Sale of coal would be done by CIL. MDOs would bring to the table technology infusion, bulk of the capex investment, economic viability and efficiency in operations for increased production.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Wed, December 14 2022. 14:44 IST
RECENT NEWS
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more
JPMorgan And Small Caps Lead Market Rally: A Sign Of Economic Optimism
In a week marked by strong financial performance, JPMorgan Chase & Co. reported a 25% rise in profits, and US small-... Read more
Big Banks Vs. Regional Banks: The Battle For Market Share
The financial industry is a competitive landscape where big banks and regional banks vie for market share. Each type of ... Read more
The Evolution Of Philanthropic Advisory Services In Private Banks
The landscape of philanthropic advisory services provided by private banks has undergone a significant transformation. T... Read more