The Union Ministries of Coal and Railways have signed an MoU with the Jharkhand government to form a three-way joint venture for coal evacuation logistics from the North Karanpura coalfield area in the state.
According to an official communication, the joint venture will have an authorised share capital of Rs 1,000 crore, where the coal ministry will have a 64-per cent stake in the venture, while the railways and state government will have 26 and 10 per cent stake, respectively. The venture will create 93.5 km rail infrastructure (Tori-Shivpur-Kathotia rail line) for evacuation of 200 million tonnes (MnT) of thermal coal a year from certain deposits in Central Coalfields Ltd´s North Karanapura area, to add 40,000 MW of power for the northern and western grid.
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