You are here: Home » Reuters » News
Business Standard

Exclusive - Indian government officials propose break-up of Coal India-sources

Reuters  |  NEW DELHI 

By Neha Dasgupta and Krishna N. Das

(Reuters) - Senior Indian officials tasked by the prime minister with reviewing energy security are recommending the of the country's monopoly, Ltd, within a year.

In a presentation seen by Reuters, they say - the world's largest miner - would be more competitive and efficient if it was divided into seven companies.

The proposal, dated Nov 30, is expected to be presented to Prime Minister Narendra soon, three officials with direct knowledge of the situation said. They declined to be identified because the information has not been publicly released.

It is unclear whether the proposal will lead to the breakup of India, which has a stock market capitalisation of $28 billion.

Calls to a spokesman went unanswered.

A source close to power and minister, Piyush Goyal, said the ministry would review its stand on depending on what the prime minister says.

enjoys a monopoly but critics say it is bloated and inefficient. Its output-per-man shift is estimated at one-eighth of Peabody Energy, the world's largest private producer that filed for bankruptcy protection this year.

had been exploring a breakup of even before taking office, Reuters reported in 2014, but the put the idea on the back burner following protests by powerful worker unions.(http://reut.rs/2gXYD5L)

A new proposal to the monopoly is likely to be met again with strong resistance from unions.

In late October, set 10 groups of senior bureaucrats to "undertake a critical review of the work done by the union in the respective sectors that they will be studying".

The proposal to comes from one of these groups - nine top bureaucrats, including from the ministries of coal, power, oil and mines. They were asked to come with policy proposals to promote energy security and the environment.

(Reporting by Neha Dasgupta and Krishna N. Das; Editing by Neil Fullick)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Exclusive - Indian government officials propose break-up of Coal India-sources

NEW DELHI (Reuters) - Senior Indian government officials tasked by the prime minister with reviewing energy security are recommending the break up of the country's coal monopoly, Coal India Ltd, within a year.

By Neha Dasgupta and Krishna N. Das

(Reuters) - Senior Indian officials tasked by the prime minister with reviewing energy security are recommending the of the country's monopoly, Ltd, within a year.

In a presentation seen by Reuters, they say - the world's largest miner - would be more competitive and efficient if it was divided into seven companies.

The proposal, dated Nov 30, is expected to be presented to Prime Minister Narendra soon, three officials with direct knowledge of the situation said. They declined to be identified because the information has not been publicly released.

It is unclear whether the proposal will lead to the breakup of India, which has a stock market capitalisation of $28 billion.

Calls to a spokesman went unanswered.

A source close to power and minister, Piyush Goyal, said the ministry would review its stand on depending on what the prime minister says.

enjoys a monopoly but critics say it is bloated and inefficient. Its output-per-man shift is estimated at one-eighth of Peabody Energy, the world's largest private producer that filed for bankruptcy protection this year.

had been exploring a breakup of even before taking office, Reuters reported in 2014, but the put the idea on the back burner following protests by powerful worker unions.(http://reut.rs/2gXYD5L)

A new proposal to the monopoly is likely to be met again with strong resistance from unions.

In late October, set 10 groups of senior bureaucrats to "undertake a critical review of the work done by the union in the respective sectors that they will be studying".

The proposal to comes from one of these groups - nine top bureaucrats, including from the ministries of coal, power, oil and mines. They were asked to come with policy proposals to promote energy security and the environment.

(Reporting by Neha Dasgupta and Krishna N. Das; Editing by Neil Fullick)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Exclusive - Indian government officials propose break-up of Coal India-sources

By Neha Dasgupta and Krishna N. Das

(Reuters) - Senior Indian officials tasked by the prime minister with reviewing energy security are recommending the of the country's monopoly, Ltd, within a year.

In a presentation seen by Reuters, they say - the world's largest miner - would be more competitive and efficient if it was divided into seven companies.

The proposal, dated Nov 30, is expected to be presented to Prime Minister Narendra soon, three officials with direct knowledge of the situation said. They declined to be identified because the information has not been publicly released.

It is unclear whether the proposal will lead to the breakup of India, which has a stock market capitalisation of $28 billion.

Calls to a spokesman went unanswered.

A source close to power and minister, Piyush Goyal, said the ministry would review its stand on depending on what the prime minister says.

enjoys a monopoly but critics say it is bloated and inefficient. Its output-per-man shift is estimated at one-eighth of Peabody Energy, the world's largest private producer that filed for bankruptcy protection this year.

had been exploring a breakup of even before taking office, Reuters reported in 2014, but the put the idea on the back burner following protests by powerful worker unions.(http://reut.rs/2gXYD5L)

A new proposal to the monopoly is likely to be met again with strong resistance from unions.

In late October, set 10 groups of senior bureaucrats to "undertake a critical review of the work done by the union in the respective sectors that they will be studying".

The proposal to comes from one of these groups - nine top bureaucrats, including from the ministries of coal, power, oil and mines. They were asked to come with policy proposals to promote energy security and the environment.

(Reporting by Neha Dasgupta and Krishna N. Das; Editing by Neil Fullick)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard