Three coal mines assigned to NLC, GMDC, TANGEDCO; 40,000 jobs expected

10 Sep 2024 CW Team

The Ministry of Coal has allocated three coal mines鈥擬achhakata (Revised), Kudanali Lubri, and Sakhigopal-B Kakurhi鈥攖o NLC India Limited, Gujarat Mineral Development Corporation (GMDC), and TANGEDCO, respectively. These mines have a combined Peak Rated Capacity (PRC) of around 30 million tonnes per annum (MTPA), with geological reserves totaling 2,194.10 million tonnes.

The mines, including one fully explored and two partially explored, are projected to generate an annual revenue of Rs 29.91 billion based on their PRC. The development will require an estimated investment of Rs 45 billion and is expected to create around 40,560 direct and indirect jobs.

With these allocations, the Ministry of Coal has now issued orders for 95 coal mines across India, with a total PRC of about 202.50 MTPA. These mines are projected to generate Rs 295.16 billion annually and provide employment to approximately 2,73,773 people.

This move is part of the government's strategy to boost domestic coal production, reduce reliance on imports, and enhance energy security while contributing to economic growth.

(ET)

Infrastructure Urban

13 Jun 2025

Reliance, Diehl Advance Pact for Precision-Guided Munitions

Diehl Defence CEO Helmut Rauch and Reliance Group鈥檚 Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence鈥檚 long-term commitment to the Indian market and its support for the Indian Government鈥檚 Make in India initiative. The partnership鈥檚 current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the 鈥淰ulc..

Infrastructure Urban

13 Jun 2025

Modis Navnirman to Migrate to Main Board, Merge Subsidiary

Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company鈥檚 growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..

Infrastructure Urban

13 Jun 2025

Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025

The Bharat InvITs Association鈥檚 industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States鈥� share of global activity below 15 per cent. Meanwhile, in..