Coal news and updates

State power cos, DVC owe majority of Rs 8000-cr CIL dues

December 1: The state power generation companies based out of eastern and central India, including Damodar Valley Corporation (DVC), account for the majority of the outstandings of Coal India Ltd (CIL), an official of the company said.

“The total outstandings would be around Rs 8,000 crore. Of this, the majority would be on account of West Bengal Power Development Corporation, Madhya Pradesh Power Generation and also DVC,” CIL’s Director (Marketing) B K Saxena told ICMW.

He said the dues of NTPC have fallen significantly in recent days from a high of around Rs 3,000 crore to around Rs 1,500-1,600 crore.

“The outstanding from NTPC used to be around Rs 3,000 crore, and if I am not wrong this has fallen to nearly Rs 1,500-1,600 crore, but it is still in four digits. The dues of NTPC are not a big issue and will get settled,” Saxena said.

Asked about the measures being taken by the company for recovery of outstanding amounts, the Director (Marketing) said, “Reconciliation is an ongoing process, but I feel West Bengal, Madhya Pradesh and DVC should clear it fast even though I understand they are facing a financial crunch.”

Asked how much of the total outstanding of Rs 8,000 crore falls into disputed category, Saxena said, “I do not have ready figures, but the disputed claim amount is very small and it is not a cause of concern.”