IMG deallocates 3 more coal blocks

Wed, Sep 19 2012 20:33 IST | 2 Views | Add your comment
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New Delhi, Sep 19

The inter-ministerial group (IMG) reviewing coal block allocations Wednesday recommended that the mining licences of three more coal blocks owned by eight companies be scrapped.

The companies recommended for deallocation are Electrosteel Castings, Rungta Mines and Maharashtra Seamless Ltd.

The IMG also recommended deduction of bank guarantee of four companies - Arcelor Mittal, GVK Power, Jayaswal Neeco and DB Power - for shortcomings in development of three blocks.

Till Wednesday, the IMG has recommended de-allocation of 11 captive mines.

The ministry, following up on the IMG's recommendations, had deallocated 7 coal blocks till Tuesday.

The IMG Tuesday had recommended penalising Jindal Steel and Power and Corporate Ispat for slow development of their blocks in Jharkhand.

The panel had also recommended scrapping the mining licence of Bihar Sponge Iron Ltd for Macherkunda coal block in Jharkhand.

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