CESC expects clarifications on coal mine auction in few weeks

The RP-Sanjiv Goenka group company CESC Ltd today expressed hope that clarifications on coal mine auctions will be available in the next few weeks.
"Clarity will be available in few weeks," chairman Sanjiv Goenka said here today when asked about the forthcoming coal mine auctions in which CESC was set to participate.
He, however, declined to speak further on the company's strategy and on the issues faced by the industry before going ahead with mine bidding.
Speaking on the occasion of commercial generation of 150 MW of power from the Haldia thermal power unit and its supply to the CESC network, Goenka said more critical concern was availability of coal rather than what would be the cost.

Captive mines meet 50 per cent of the total coal requirements of CESC which supplies electricity to 28 lakh homes. The company lost its captive mine Sarasthali in the coal nationalisation process.
Goenka said the entire 600 MW capacity would be ready by March, which would raise CESC's capacity to 1800 MW.
On tariff impact, he said there had been fluctuations of forex, cost overrun of Rs 800-900 crore in the Haldia project and the coal levy of Rs 997 crore would have an impact on the regulatory filing for tariff, which was pending.
Also, its subsidiary CESC Properties was set to develop residential-cum-commercial property at Haldia on a three acres of land at the cost of Rs 150 crore.