Coal Pulz signs escrow agreement for Namchik Nampuk Coal Mine in Arunachal Pradesh
An escrow agreement has been signed for the Namchik Nampuk Coal Mine in Delhi, marking the first step towards opening the largest coal mines in the private sector in Northeastern India. Coal Pulz Pvt. Ltd.
Coal Pulz Pvt Ltd is a joint venture between two industrialist Naveen Singhal and Ratan Sharma. The company stated this is a historic milestone which shall fuel growth and power Arunachal Pradesh’s progress and neighbouring states.
Namchik Nampuk with nearly 15 million tons of coal reserve in Arunachal Pradesh was auctioned in November 2022 along with 28 other coal mines which was the biggest tranche of auction of commercial coal mines.
The auction had witnessed strong competition and Coal Pulz Pvt. Ltd. Guwahati won the bid for Namchik Nampuk coal mine. Coal Pulz (P) Limited shall be the first private entity to explore commercial mining in the Northeastern Region.
The company stated, “With the advent of opening process of the legal coal mining in private sector, industrialization shall get a boost in North-Eastern region and a lot of development shall happen both in logistic, infrastructure sector and shall increase large scale employment opportunities and business activities. This would also allow the Government to receive huge revenue which could be utilized for overall development of the State”.
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