CoalMin to review status of formation of SPVs

The Coal Ministry will next week review the status of the formation of special purpose vehicles and joint venture companies among state government firms which have been jointly allocated coal blocks.
The Additional Secretary will hold the meeting with the representatives of the state government, sources said.
"Ministry of coal will hold a meeting on February 20 to review the the status of formation of special purpose vehicle/ joint venture company amongst the State Government Companies/ Corporations, those who have been allocated coal blocks jointly for end-use, power as well as for mining," said a source.
The Coal Ministry had earlier asked states to advise the companies that have been allocated mines to either form special purpose vehicles or joint ventures for the projects.

Kickstarting the process of coal blocks allocation, the government had last year allocated 17 coal mines - 14 to power and three 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.