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The Cabinet Committee on Economic Affairs on Wednesday approved the revised Scheme for Harnessing and Allocating Koyala Transparently in India (SHAKTI) for allocation of coal to the power sector to help them meet long-term and short-term coal requirement. The approval was given by the Cabinet Committee on Economic Affairs (CCEA) chaired by the Prime Minister Narendra Modi, in a move aimed at simplification of the linkage process. The CCEA "has approved grant of fresh coal linkages to thermal power plants of central sector/state sector/independent power producers (IPPs)," the coal ministry said in a statement. With the introduction of Revised SHAKTI (Scheme for Harnessing and Allocating Koyala Transparently in India) Policy, two windows --- coal linkage to central gencos/states at notified price and coal linkage to all gencos at a premium above notified price -- have been proposed. The ministry further said 'under coal at notified price' segment the existing mechanism for grant of
The Union Cabinet has approved a Rs 11,440 crore revival plan for debt-laden Rashtriya Ispat Nigam Ltd (RINL), according to a statement released on Friday. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved the revival plan for RINL for Rs 11,440 crore, it added. The infusion includes Rs 10,300 crore as equity capital into RINL and conversion of Rs 1,140 crore working capital loan as 7 per cent non-cumulative preference share capital redeemable after 10 years to keep RINL as a going concern, the official statement said. With this revival package, many of the legacy problems that RINL used to face will be resolved, Information and Broadcasting Minister Ashwini Vaishnaw said. The equity infusion of Rs 10,300 crore into RINL will help it overcome the operational problems related to raising working capital and start blast furnace operations in the most productive way, the statement said. The revival package would allow the company t
The Cabinet Committee on Economic Affairs on Thursday approved equity investments of Rs 5,607 crore by state-owned South Eastern Coalfields and Mahanadi Coalfields to set up two thermal power projects with total generation capacities of 2,260 MW. The decision was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Thursday, an official statement said. According to the statement, South Eastern Coalfields Ltd (SECL) will set up a 660 MW thermal power plant through a joint venture of SECL and MPPGCL. Similarly, Mahanadi Coalfields Ltd (MCL) will set up a 2x800 MW thermal power plant through Mahanadi Basin Power Ltd (MBPL - a subsidiary of MCL). There will be an equity capital of Rs 823 crore (plus or minus 20 per cent) by SECL with an estimated project capex of Rs 5,600 crore (accuracy of plus or minus 20 per cent) for the proposed 660 MW supercritical thermal power plant through JV of SECL and MPPGCL at Amarkantak Thermal
Prime Minister Narendra Modi on Thursday hailed the Union Cabinet's approval to the inclusion of the Jamrani Dam Multipurpose Project of Uttarakhand under the accelerated irrigation benefit programme, saying it is a significant stride towards a prosperous and sustainable Uttarakhand and Uttar Pradesh. The government on Wednesday approved the inclusion of the project under the Pradhan Mantri Krishi Sinchayee Yojana-Accelerated Irrigation Benefit Programme (PMKSY-AIBP), which will cost Rs 2,584 crore. The project envisages the construction of a dam near Jamrani village across river Gola, a tributary of river Ram Ganga in Nainital district of Uttarakhand. The dam will feed the existing Gola barrage through its 40.5 km length of canal system and 244 km long canal system completed in 1981. In a post on X, Modi said, "This decision by the CCEA will bolster irrigation, enhance hydro power generation and provide clean drinking water to over 10 lakh people." "It is a significant stride towa