Coal news and updates

PAC red-flags UMPP bidding, coal diversion for Sasan

Coming down heavily on the ministries of power and coal, the public accounts committee (PAC) has pointed to flaws in the bidding process followed for awarding the ultra mega power projects and highlighted “several lapses” in allowing diversion of surplus coal by Reliance Power Ltd for the Sasan project.

The PAC, in its draft report on ‘the ultra mega power projects (UMPP) under special purpose vehicles’, has specifically sought investigations by Central investigating agencies in the processes followed for appointing the consultant for the bidding process, the selection of developers, allocation of surplus coal for some projects and “concealment of vital information” by both the Central ministries.

Source: Financial Express