Coal waiting for partner for JV
Coal India Limited (CIL) is waiting for a good partner for a 50: 50 joint venture of its 1600 MW power plant in Vasundhara Coalfield, in Orissa.
CIL Chairman N C Jha said that the responsibility to find a right partner for joint venture is of the Power Plant Corporation and they are already searching for it. The intersted companies have to fulfill the guidelines, he said.
Speaking on the sidelines of an industrial safety symposium and exposition organized by the Confederation of Indian Industry (CII), he said the company may start power production in coalfield area where coal evacuation infrastructure is not yet developed.
Two coalfields, one in Mandha Raigarh in Chhattishgarh and another in North Karampura of Jharkhand, are where power production may start.
On the cash reserve issue he said the government has enquired about the cash reserve of the company at present.
“We cleared the first step to inform the cash reserve of company which is at present around Rs.45,000 crore and end of this fiscal it would be around Rs. 60,000 crore.”
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