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Coal Ministry returns 3 coal blocks to NTPC ahead of its Rs 12,000 crore disinvestment plan

23 Jan 2013 Evaluate

The coal ministry has returned three coal blocks to NTPC ahead of its Rs 12,000 crore disinvestment plan. Licenses for the three blocks - Chatti-Bariatu, Kerandari and Chatti-Bariatu (South) - were cancelled by the coal ministry in 2011 after the company failed to meet the set milestones for development.

Back in January, 2012, upon the representation of Power Ministry and NTPC for reviewing the decision of de-allocation, 'in principle' decision to withdraw the de-allocation was taken. The matter then in February, 2012, was examined in consultation with the ministry of law and justice in view of the amendment to MMDR Act in 2010 and notification of Rules there under.

The company would now develop the coal blocks as per the revised schedule submitted by them. Further, NTPC may further also apply for the coal blocks from amongst the coal blocks circulated calling for applications from the government companies. However, the applications shall be evaluated on the basis of the pre-determined criteria, which include preparedness for the projects and the financials of the company.

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Company Name CMP
NTPC 393.65
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Adani Power 198.40
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