Govt to invite global players for roll out of commercial coal mining auction plan by December
FirstpostIn a bid to liberalise the coal sector, the government is planning to invite global players for the roll-out of auction plan for commercial mining by December this year, Union Minister Pralhad Joshi said on Thursday New Delhi: In a bid to liberalise the coal sector, the government is planning to invite global players for the roll-out of auction plan for commercial mining by December this year, Union Minister Pralhad Joshi said on Thursday. The maiden move aimed at cutting coal imports is set to end the monopoly of domestic giant Coal India that accounts for over 80 percent of India’s dry-fuel output. He said that the government will invite global players for this, as 100 percent FDI in coal will lead to more investors in coal mining operations with better technology. Coal India is the single largest coal producer in the world, operating through 82 mining areas with seven wholly-owned coal producing subsidiaries and a mine planning and consultancy company, it accounts for about 600 million tonnes annual production.