The Competition Commission has imposed a fine of Rs 591 crore on Coal India for allegedly having discriminatory conditions in fuel supply pacts. Apart from directing the company to cease and desist from anti-competitive practices, the watchdog has ordered modification in the agreements.
Category: Coal & Mining
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Government generates Rs 1,748 crore from auction of 31 coal mines
The government has generated revenue of Rs 17,47.70 crore from the auction of 31 coal blocks.
“The revenue generated till January, 2017 from the auction of 31 coal mines is Rs 17,47,72,47,706,” Coal and Power Minister Piyush Goyal said in a written reply to the Lok Sabha.
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High Court upholds decision to cancel JSPL coal block
The Delhi High Court has upheld the government's decision to reject winning bids submitted by Naveen Jindal-led Jindal Steel & Power Ltd for two coal blocks.
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Adani Enterprises wants to tap Australian fund for coal mine railway
Gautam Adani-led Adani Enterprises has applied for financing from an Australian infrastructure fund to build a rail line that is part of a $16-billion coal project in the state of Queensland, Australia's resources minister said, reports Reuters.
Financing from the A$5 billion Northern Australian Infrastructure Facility (NAIF) would offer a boost to Adani after some major banks said they would not participate in the controversial coal project.
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CIL may miss output target by 20 MT this fiscal
Coal India is likely to miss its production target by 20 million tonnes (MT) and may end up producing up to 578 MT this fiscal due to a host of issues, including evacuation and demand-supply, a top official has said.
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Mines auction to fetch states Rs 1.5 lakh crore in 2017-18
Mines auction is likely to add Rs 1.5 lakh crore to statesÂ’ kitty in 2017-18, Mines Secretary Arun Kumar has said. The first tranche of auctions, which started last year, saw bidding of 21 mine blocks that fetched Rs 73,000 crore to states.
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Coal India approves interim dividend of Rs 18.75 per share
Coal India has said that its Board has approved an interim dividend of Rs 18.75 per share for the 2016-17 financial year. The government is likely to get around Rs 9,200 crore from the total interim dividend payout.
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Coal gas can help lower import bill by $10 billion in 5 years
Domestic coal gas can be used as a feedstock for producing urea and other chemicals that can help reduce the country's import bill by $10 billion in five years and cut carbon emissions, a top official has said.
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Coal India production grows 6.5percent in February
Coal India registered a healthy 6.5 per cent growth in coal production to clock 54.30 million tonnes (MT) in February this year compared to 50.98 MT achieved in the corresponding period last year.
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There is a real talent shortage in the Indian construction industry
It's early days for us. We have launched our operations in India last year. We said, let's not get the cart before the horse. Let's create a world-class delivery capability. So we have built that team and we are continuing to expand that team with quite an aggressive hiring programme. Now, more recently, we have been bringing on the sales, marketing and expertise.