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Rail projects coming up for quicker movement of coal

11 Dec

Two rail projects to facilitate faster movement of coal are expected to be completed in June and another rail link may get ready by 2017, Parliament was informed today. The three rail infrastructure projects are Tori-Shivpur Kathotia of CCL (Central Coalfields Ltd) in Jharkhand, East West & East Corridor of South Eastern Coalfields Limited (SECL) in Chhattisgarh and Jharsuguda Barpali of Mahanadi Coalfields Ltd (MCL) in Odisha, the minister said.

“The likely completion of these rail projects is June 2016, December 2017 and June 2016, respectively,” Coal and Power Minister Piyush Goyal said in a written reply to the Lok Sabha. The projects, he said, have been taken up by Coal India  (CIL) for capital outlay of Rs 8,579 crore. “To realise the potential of the major coalfields namely, North Karanpura of CCL in Jharkhand, Mand Raigarh of SECL in Chhattisgarh and Ib-Talcher of MCL in Odisha, three major rail infrastructure projects have been taken up by CIL,” the minister said.

The minister further said the government has approved the proposal regarding disinvestment of 10 percent equity of Coal India out of the government’s shareholding of 78.65 percent through offer for sale (OFS). “Disinvestment of 10 percent government equity will help in meeting the minimum shareholding norm of 25 percent for listed government companies prescribed by Sebi,” he said.

Read more at: http://www.moneycontrol.com/news/business/rail-projects-comingfor-quicker-movementcoal-goyal_4535381.html?utm_source=ref_article

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Posted by on December 11, 2015 in Uncategorized

 

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