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| Adani-Torrent to 50:50 share in GMDC's Naini coal block |
| Press Trust of India / Ahmedabad Mar 08, 2009, 17:02 IST |
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The Gujarat government has allotted Gujarat Mineral Development Corporation's (GMDC) Naini coal block in Orissa, to Adani and Torrent groups, a top company official has said.
Both Guajarat-based companies will have 50 per cent share each in the block, which was awarded to the state-run GMDC by the government of India in 2006.
The state government has accomodated Adani group, which was refused to be given fuel by the GMDC earlier on account of higher price of power.
"Chief Minister Narendra Modi has cleared the file splitting the entire block between Torrent group and Adani group," said a top official in the state industry department.
He added that finally, a long-pending issue involving three corporates engaged in energy generation and distribution, has been resolved.
The state government has not approved GMDC's prior agreement with Hyderabad-based KSK Energy, which had signed an pact with GMDC to develop the block and set up a power plant on the pit head.
GMDC was alloted two coal blocks, Morga in Chhatisgarh and Naini in Orrisa, in 2006.
Having procured the block in Morga, GMDC had signed a Fuel Supply Agreement (FSA) with KSK Energy for setting up a power plant of 1,750 Mw at the pit head.
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