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Home News Power Sector News HPGCL and IPGCL sign MoU to form Joint Venture Company for MP coal block

HPGCL and IPGCL sign MoU to form Joint Venture Company for MP coal block

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Coal blockThe Haryana Power Generation Corporation Limited (HPGCL) & Indraprastha Power Generation Corporation Limited (IPGCL) of the National Capital Territory of Delhi signed an agreement for the formation of Joint Venture Company (JVC) for the development of a coal block in Singrauli, Madhya Pradesh.The agreement was signed by the Managing Director HPGCL Sanjeev Kaushal & Managing Director IPGCL R.K.Gaur in the presence of Financial Commissioner and Principal Secretary (Power) Govt. of Haryana Ashok Lavasa.

Speaking on the occasion,  Lavasa said that the demand of electricity has been increasing day by day and that the development of the coal block will go a long way to meet the power generation requirements of Haryana and Delhi. He said that Haryana has made an ambitious plan to increase the existing power capacity under which 6000 MW power has been planned to be added by the end of current five year plan and start of 12th five year plan.

The Ministry of coal, Government of India had allocated a coal block to HPGCL and the Government of National Capital Territory of Delhi under the Government Company dispensation scheme. The coal block is situated in district Singrauli, Madhya Pradesh. The total area of the coal block about 53 Sq. Km. This coal block has an estimated reserve of 950 million tonne of coal which would be enough to generate about 5000 MW of power for 25 years if fully exploited.

The infrastructure development works required for the mining would be completed within three to four years. Simultaneously, the process of setting up of a Thermal Power Plant would also be started to meet the growing requirement of electricity of consumers.  The power generated from this project would be equally shared by Haryana and Delhi.

The JVC has applied for the prospecting license and forest clearance for topographical and geographical survey. Provisional Geological Report has already been obtained. Requisite forest clearance and prospective license has been pursued.

The name of the JVC has been proposed as Yamuna Coal Company Pvt. Ltd. (with its office at Faridabad) subject to the approval by Registrar of Companies. It has been decided that the first Chairman of JVC will be from the IPGCL and the CEO from the HPGCL.

Courtsey - Punjab Newsline

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