Adani Enterprises signs coal mining pact with NLC India
Adani Enterprises has signed a coal mining agreement with NLC India for development and operation of Talabira II and III coal block
New Delhi: Adani Enterprises on Monday said it has signed a coal mining agreement with NLC India Ltd for development and operation of Talabira II and III coal block.
In a BSE filing, it said its subsidiary, Talabira (Odisha) Mining Pvt. Ltd (TOMPL), “has signed coal mining agreement (CMA) with NLC India Ltd along with the company for development and operation of Talabira II and III coal block...”.
TOMPL has become a successful bidder for mine developer and operator (MDO) tender of Talabira II and III coal block issues by NLC India Ltd, it said. “The project is expected to generate a revenue of Rs12,200 crore. The block is located in IB valley coalfields in Sambalpur and Jharsuguda in Odisha and the mine capacity shall be of 20 million tonne per annum (MTPA) with total mineable reserve of about 554 MT,” Adani Enterprises said.
The coal ministry has allocated the block to NLC India for development, mining and captive consumption of the dry fuel from the blocks in its various end use power plants. NLC had floated a tender for selection of MDO for development and operation of the two Talabira blocks in November 2017 and reverse auction was conducted in January, wherein TOMPL became the successful bidder.
Editor's Picks »
- N.D. Tiwari, former Uttarakhand chief minister, dies at 93
- Bhagwat calls for law to facilitate construction of Ram Mandir
- Reliance Jio launches new plan, full cashback on recharges
- Nestle loses chief for Asia as Unilever CEO opening looms large
- Gold prices today rise by nearly Rs 200, silver rates recover
- India’s rising steel demand is making companies starry-eyed
- ACC’s operating margins feel the stress as cost pressures grow
- Federal Bank rides out Kerala floods but growth metrics need to sustain
- RIL’s consumer businesses deliver on growth; investments stay high
- Hero MotoCorp Q2: Costs apply brakes on profit growth