Orissa, Kerala, Gujarat to jointly explore coal
Orissa, Kerala and Gujarat on Monday agreed to float a Special Purpose Vehicle for joint exploration of coal from Baitarani (west) coal block in the state.
By PTI |
BHUBANESWAR: Orissa, Kerala and Gujarat on Monday agreed to float a Special Purpose Vehicle for joint exploration of coal from Baitarani (west) coal block in the state.
The agreement was signed between the state owned Orissa Hydro-Power Corporation (OHPC), Kerala State Electricity Board (KSEB) and Gujarat Power Corporation Limited (GPCL) here for floating a joint venture company which would work towards exploration and use of coal from the Baitarani (west) coal block.
Orissa's Energy Secretary U P Singh, who is also the CMD of the OHPC, told reporters that the agreement was signed among the three states according to a guideline of the central coal ministry which allocated one coal block to the three state owned companies. The agreement would remain effective for one year, he said.
The Baitarani (west) coal block which reserved nearly 602 million of coal would be equally divided among the three partner states. The three companies would also equally share the expenditure to be made for exploration of coal, Singh said.
Official sources said that all the three states would have to deposit bank guarantee of Rs 75 crore each with the Centre for exploration of coal.
The agreement was signed between the state owned Orissa Hydro-Power Corporation (OHPC), Kerala State Electricity Board (KSEB) and Gujarat Power Corporation Limited (GPCL) here for floating a joint venture company which would work towards exploration and use of coal from the Baitarani (west) coal block.
Orissa's Energy Secretary U P Singh, who is also the CMD of the OHPC, told reporters that the agreement was signed among the three states according to a guideline of the central coal ministry which allocated one coal block to the three state owned companies. The agreement would remain effective for one year, he said.
The Baitarani (west) coal block which reserved nearly 602 million of coal would be equally divided among the three partner states. The three companies would also equally share the expenditure to be made for exploration of coal, Singh said.
Official sources said that all the three states would have to deposit bank guarantee of Rs 75 crore each with the Centre for exploration of coal.
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