CIL Current Affairs

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CIL inks MoU with ICFRE to monitor Environment related issues in Coal Mining Projects

The Coal India Limited (CIL) has signed a Memorandum of Understanding (MoU) with Indian Council of Forestry Research and Education (ICFRE) for effectively monitoring of environment related issues in the coal mining projects.

The MoU will help CIL to properly comply and monitor the conditions laid down by the Ministry of Environment, Forests and Climate Change (MoEFCC) for environment and forest clearances. It will also help CIL in improving the rehabilitation and reclamation of the mined out areas.

The MoU covers assessment and monitoring of (i) Plantation and eco restoration activities, (ii) Preparation of environmental impact assessment, (iii) Preparation of wild life management plans, (iv) Environmental management plans and (v) Capacity building for the executives of CIL on environment and forestry issues and more

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NTPC partners with Coal India Limited to foray into fertilizer sector

State-run power producer NTPC has signed a joint venture agreement (JVA) with state-run miner Coal India Limited (CIL) to revive plants of the Fertilizer Corporation of India Limited (FCIL).

The agreement will pave the way for NTPC to foray into fertilizer sector and revive existing fertilizer plants of FCIL.

Under the agreement

  • A joint venture (JV) company will take up the revival of FCIL plants at Sindri in Bihar and Gorakhpur in Uttar Pradesh by setting up an ammonia urea plant at each location.
  • The JV company would initially be incorporated with 50:50 equity participation from both state run entites.
  • It also contain provisions of inducting strategic partners at a later date depending upon business requirement of JV company.

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CCEA approves 10% disinvestment in Coal India Ltd

Cabinet Committee on Economic Affairs (CCEA) has approved 10 per cent disinvestment in Coal India Limited (CIL).

Decision in this regard, was taken by CCEA meeting chaired by Prime Minister Narendra Modi in New Delhi. Presently, Union Government holds around 79.65 per cent stake in CIL.

It is the third disinvestment to be undertaken in CIL’s history and is expected to fetch around 21,000 crore rupees at current market capitalisation.

The disinvestment in CIL will be carried out through the offer for sale mechanism and the date and price of the stake sale is yet to be decided by the Union Finance Ministry.

It should be noted that the stake sale in CIL is part of Union Government’s disinvestment drive for financial year 2015-16 with target of 69,500 crore rupees. So far, Union Government raised around 12,600 crore rupees through regular disinvestment in FY 2015-16.

About Coal India Limited

CIL is an Indian state-controlled coal mining company. It is headquartered in Kolkata, West Bengal. It is the largest coal producer company in the world and contributes around 81% of the coal production in India.

Union Government of India owns around 80 per cent of the stake in CIL and controls its operations through Union Ministry of Coal.  In April 2011, CIL was conferred the Maharatna status by the Union Government. It is India’s 5th most valuable company in terms of market value.

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