JV agreement to be signed for Moira Madhujore North, South blocks |
By e4p Correspondent, Tuesday, July 07, 2009, 16:31 Hrs [IST] |  |
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Category: Coal, Lignite, Coke | Tags: Adhunik Corporation, Howrah Gases, Uttam Galva Steels | Share:  |
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The Union Ministry of Coal had allocated the Moira Madhujore North and South coal blocks in West Bengal to Adhunik Corporation, with Vikas Metal and Power, ACC, Uttam Galva Steels, Ramsarup Lohh Udhyog and Howrah Gases. The blocks have a cumulative reserve of over 685 million tonne, of which Adhunik is reportedly to have a share of 30 per cent.
The blocks were proposed to be developed under the formation of a JV company to conduct mining activities. The five companies have sought an additional time of two months for planning a JV agreement.
The JV is likely to be formed only after the draft JV agreement is submitted to the Coal Ministry.
Source : ProjectsToday
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