Govt threatens to cancel block allotted to GVK, ArcelorMittal
Press Trust Of India / New Delhi Sep 30, 2009, 01:07 IST
The government has threatened to cancel the coal block alloted jointly to ArcelorMittal and GVK Power in Jharkhand for the inordinate delay in developing the property.
The coal ministry served notices on September 23 to both the companies and sought their replies within 15 days, seeking reasons for the delay in developing the mines allotted for captive use.
“In spite of a passage of almost one-and-a-half years, no serious effort has been made by your company to develop the coal block according to the milestone chart appended to the allotment letter. Consequently, the development of the coal block has been inordinately delayed,” the ministry said in the letter dated September 23.
The ministry said the exploration had not begun as yet, whereas it should have been completed by now, according to the time schedule for development of the block.
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