CoalMin to review status of formation of JV, SPV next week

The Coal Ministry has convened a meeting next week to review the progress on setting up special purpose vehicles (SPV) and joint ventures (JV) among state-owned firms which have been jointly allocated coal blocks.

"Additional Secretary, Ministry of Coal, will hold a meeting with the representatives of the state government on August 4...To review the current status of formation of SPV/JV company amongst the state government companies/corporations, those who have been allocated coal blocks jointly for the end use i.e power as well as for mining," according to the meeting notice.

The Coal Ministry had earlier asked states to advise the companies that have been allocated mines to either form SPVs or JVs for projects.

Kick-starting the process of coal blocks allocation, the government had last year allocated 17 coal mines - 14 to power and 3 to mining public sector undertakings (PSUs).

Of the 14 blocks alloted to power PSUs, four were alloted to NTPC.

Other power PSUs that were allocated mines included Neyveli Uttar Pradesh Power Ltd, Odisha Thermal Power Corp, Jammu & Kashmir State Power Dev Corp, Chhattisgarh State Power Gen Co Ltd, Andhra Pradesh Generation Co, Maharashtra State Power Generation Co, Rajasthan Vidyut Utpadan Nigam and Punjab State Power Corp Ltd.

Three three blocks were alloted to mining PSUs like Jharkhand State Mineral Development Corp and MP State Mining Corporation Ltd.