​​​
  1. Steel Ministry approaches Coal Ministry for allocation of blocks to RINL

Steel Ministry approaches Coal Ministry for allocation of blocks to RINL

Steel Ministry has come to the rescue of RINL by making a request to the Coal Ministry for allocation of thermal and coking coal blocks to the state-run steelmaker for its expansion and modernisation plans.

By: | New Delhi | Published: June 27, 2016 2:55 PM
"RINL has been requesting for direct allocation of thermal and coking coal blocks for quite some time. It has been urging for blocks at Baitrani West Terminal, Talabira I & II, Choritand Tilaiya, Utkal A, Rampia, etc in Odisha for captive use," a senior government official said. (Source: Website) “RINL has been requesting for direct allocation of thermal and coking coal blocks for quite some time. It has been urging for blocks at Baitrani West Terminal, Talabira I & II, Choritand Tilaiya, Utkal A, Rampia, etc in Odisha for captive use,” a senior government official said. (Source: Website)

Steel Ministry has come to the rescue of RINL by making a request to the Coal Ministry for allocation of thermal and coking coal blocks to the state-run steelmaker for its expansion and modernisation plans.

RINL’s Vizag Steel Plant (VSP) has doubled its capacity to 6.3 million tonnes per annum (mtpa) and is in the process of raising it to 7.3 mtpa through modernisation and upgradation of its existing units. It also has a plan to increase capacity to up to 20 mtpa.

“RINL has been requesting for direct allocation of thermal and coking coal blocks for quite some time. It has been urging for blocks at Baitrani West Terminal, Talabira I & II, Choritand Tilaiya, Utkal A, Rampia, etc in Odisha for captive use,” a senior government official said.

Now, the Steel Ministry has requested the Coal Ministry to consider and expedite RINL’s case, the official added.

Also Read: Steel ministry to demand rollback of green cess hike

The Navratna company does not have captive source for coking coal and iron ore, and the Steel Ministry in its outlay for 2016-17 has allocated funds to acquire mines, a company official said.

“The acquisition of iron ore and coal mines, including investment through joint ventures (JVs), will be done to achieve self-reliance for raw material and cost reduction,” the official added.

In April last year, RINL signed an MoU with Andhra Pradesh Mineral Development Corporation (APMDC) for exploration and development of iron ore mining reserves over 2,800 hectares in Kukunur area of West Godavari district through the JV route.

Besides, it has a strategic tie-up for Rajasthan Mining Project (iron ore) at Bhilwara and the Indian Bureau of Mines has approved the mining plan.

On Banera mine, the company official said the matter is pursued with the Union Mines Ministry for reserving the block in favour of RINL as per the provisions of the Mines and Minerals (Development & Regulation) Act, 2015.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Go to Top