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| CIL expects favourable outcome from MoEF: Jaiswal |
| Press Trust of India / Kolkata Aug 13, 2010, 19:02 IST |
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Coal minister Sriprakash Jaiswal today said that Coal India Ltd (CIL) is expecting a favourable response from the Union Ministry of Environment and Forests about securing permission for coal mining in forest areas.
"I do not think there will be much hurdle from the Environment Ministry after the Prime Minister had intervened," Jaiswal told reporters on the sidelines of Coal Consumers' Association of India's event here.
"Not more than 10-15 per cent of coal blocks will be in the 'no-go areas' after a solution is arrived at with MoEF," he said.
In other words, CIL is expecting release of 85-90 per cent of the prospective coal blocks in forest areas, which were announced as strict no mining zones or 'no go' areas by the MoEF.
An outcome is expected by this month end and the final decision has direct bearing on the forthcoming CIL IPO valuation, as huge coal reserves are in the forest land.
CIL Chairman P S Bhattacharyya had said last month about having forwarded a proposal to the MoEF in which the coal major will help in increasing green cover in forest areas.
Jaiswal said non-clearance by the MoEF will lead to a reduction of coal production by 40 million tonnes in the terminal year of 11th plan period (2011-12).
The CIL 2010-11 import target will be 8 million tonnes out of which 4.5 million tonnes has already been imported. The total production will be 460.5 million tonnes for the current fiscal as against 431 million in the previous year.
Last month, after PMO's intervention, a government panel had recommended mining in 77 blocks to be taken off from no mining zones.
'Go areas' are the designated zones in forest areas where coal mining is allowed in case they meet the environment clearance.
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