Coal India Current Affairs

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Rajarhat is the new HQ of Coal India

State-owned Coal India Ltd will move its headquarters from heart of Kolkata to its outskirts, some 25 km away at Rajarhat, West Bengal. Its previous headquarter was the 109-year-old building. The new headquarters will be built over 15 acres at an investment of Rs188 crore, by the end of this year.

About Coal India Limited (CIL)

Coal India Limited (CIL) is an Indian state-controlled coal mining company. It was 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 90% of the shares in CIL and controls the operations of CIL through Ministry of Coal. In April 2011, CIL was conferred the Maharatna status by the Union Government of India. It is India’s 5th most valuable company in terms of market value.

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Govt allowed CIL to pump gas from CBM mines

The Cabinet Committee on Economic Affairs (CCEA) allowed state-owned Coal India Ltd (CIL) to pump methane gas trapped in coal beds of its existing mines. This move will open a new revenue stream for the world’s largest coal miner and help unlock several mines that have remained out of bounds because of the presence of the explosive gas that make mining unsafe.

Presently, rules and regulations prohibit mining firms from extracting Coal Bed Methane (CBM) during mining as the policy does not allow for simultaneous extraction of methane (CBM) and coal. Only those companies that successfully bid for mines with CBM are allowed to explore and produce such gas. The government auctioned 33 CBM blocks since 2001.

CIL holds at least 20% of the estimated 60 billion tones of coal resources in India. It has many coal mines in eight States that are estimated to have CBM reserves of 3.5-4 trillion cubic feet.

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IOC ranked No.1 on India’s Fortune 500 list

According to the latest annual list of Fortune 500 companies in India published by business magazine Fortune, state-run Indian Oil Corp (IOC) is country’s biggest company in terms of annual revenue, followed by Mukesh Ambani-led private sector giant Reliance Industries at the second place.

Indian Oil Corp (IOC) was the biggest with annual revenue of Rs 4,75,867 crore, followed by Reliance Industries (RIL) with a full-year revenue of Rs 4,09,883 crore. This is followed by Bharat Petroleum (Rs 2,44,822 crore) at the third place and Hindustan Petroleum (Rs 2,17,771 crore) at fourth.

As per Fortune 500, India Top 10 Companies are:

Rank

Company

 1. Indian Oil Corporation (IOC)
 2. Reliance Industries Limited (RIL)
 3. Bharat Petroleum
 4. Hindustan Petroleum
 5. State Bank of India
 6. Tata Motors
 7. ONGC
 8. Tata Steel
 9. Essar Oil
 10. Coal India

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