Coal news and updates

Project IIIT now eyes coal purse

Jharkhand needs some fresh fuel of financial support to kick-start its ambitious IIIT project in Ranchi.

With two of its private industry partners from the Tata Group evincing "limited interest" in the proposed information technology cradle, the state is heavily banking on public sector giant Central Coalfields Limited (CCL) to realise its Rs 128-crore dream.

Sanctioned way back in 2010, the IIIT project had been dragging its feet until it received a shot in the arm in May this year when the Union HRD ministry okayed land for a permanent campus in Sanga mouza of Ranchi's Kanke block.

Thereafter, the state IT department rushed letters to partners Tata Motors and Tata Consultancy Services (TCS), asking them to submit Rs 4 crore each as bank guarantee.

However, if sources in the department are to be believed, the two industry players who were roped in last year are currently reluctant to make full investments, triggering the hunt for a third partner.

According to proposal, the IIIT is a PPP project in which the Centre holds 50 per cent equity, the state 35 per cent and the rest 15 per cent is to be divided among industry partners. "But, the Tatas (read Tata Motors and TCS) aren't eager to share more than 10 per cent. Till now, they haven't deposited their shares," a well-placed source said.

Deputy director of the IT department S.V. Sahu conceded that they were still waiting for funds from Tata Motors and TCS, quickly adding that CCL had agreed, in principle, to partner the state as the third agency.

"Around a fortnight ago, after discussions with CCL officials, I wrote to its chairman-cum-managing director Gopal Singh for a formal consent. Let's see how it goes from here. We are hopeful (of partnering with CCL) and are trying out every option from our end," Sahu said.

The IT boss added that only after they sorted out these issues, they would be in a position to ink the tripartite MoU.

Sahu also informed that they were working out modalities to begin IIIT classes from a temporary campus at National Institute of Foundry and Forge Technology (NIFFT) in Tupudana on Ranchi-Hatia road, 12kmfrom the capital.

"Earlier, we had planned to launch academic sessions at NIT in Adityapur, but we faced logistics issues. Now, we are mulling to use NIFFT as our temporary campus. The cradle authorities have agreed. I have sent a proposal to them on our requirements of space like at least two classrooms and a laboratory, besides accommodation," Sahu added.

Among the newest IIITs, neighbouring Bengal got one in Kalyani, near Calcutta, in July 2014. Here, apart from the Centre and state holding 50 per cent and 35 per cent equity, respectively, the rest 15 per cent is divided among industry partners Coal India, Rolta Foundation and JSW Steel.

source: http://www.telegraphindia.com