Coal news and updates

Govt Likely To Bring Coal India's First-Mile Connectivity, Railway Projects Under National Monetisation Pipeline: Report

The central government is likely to bring the coal sector under the national monetisation pipeline (NMP) and has even paved the way for coal blocks to be given to qualified bidders by relaxing rules, reports Financial Express.

The government is looking to monetise the first-mile connectivity (FMC) and railway projects.

“FMC should be outsourced, we are for the outright sale of CERL (Chhattisgarh East Railway, a venture of CIL, Railways and the Chhattisgarh government). It should be monetised. CIL should be brought under NMP,” Coal secretary Anil Kumar Jain was quoted in the Financial Express report.

Coal India Limited (CIL) has reportedly earmarked Rs 14,000 crore for investments in two phases by 2025 for the FMC projects.

Similarly, Rs 19,650 crore has been designated for railway projects by 2024 so that the evacuation of the enhanced coal production could be enhanced.

The government has also reduced the upfront payment in the norms for the latest tranche of auctions putting 88 coal mines on offer.

Allowing 100 per cent FDI via the automatic route and relaxation of efficiency parameters for operational efficiency are other measures taken by the government.