Jan 14, 2014, 05.07 PM IST
The CEA asked "the participants to intimate the latest status of development of captive coal blocks and end-use power plants, including the constraints being faced by them, if any, in obtaining clearances, land acquisition and mining lease," according to the minutes of the meeting.
Tags NTPC, Hindalco Industries, Tata Power Company, Tata Steel, captive coal blocks, Central Electricity Authority
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CEA asks Tata, Hindalco others to speed up coal mine output
The CEA asked "the participants to intimate the latest status of development of captive coal blocks and end-use power plants, including the constraints being faced by them, if any, in obtaining clearances, land acquisition and mining lease," according to the minutes of the meeting.
Like this story, share it with millions of investors on M3
CEA asks Tata, Hindalco others to speed up coal mine output
The CEA asked "the participants to intimate the latest status of development of captive coal blocks and end-use power plants, including the constraints being faced by them, if any, in obtaining clearances, land acquisition and mining lease," according to the minutes of the meeting.
Also Read: No criminality in coal block allocation: CBI sources
"A meeting was held...to review the status of development of captive coal blocks allocated for power generation," according to the minutes. "There are constraints in supply of coal to new power plants...therefore, it is necessary to expedite the development of captive coal blocks," the minutes said.
The Supreme Court had observed last week that huge investments made by companies in coal blocks without getting approvals cannot be a ground for not cancelling licences. The apex court had sought the Centre's response on whether it intended to de-allocate such mines. The CEA asked "the participants to intimate the latest status of development of captive coal blocks and end-use power plants, including the constraints being faced by them, if any, in obtaining clearances, land acquisition and mining lease," according to the minutes of the meeting.
The CEA would try to facilitate the removal of the constraints, it added. The CEA is the apex technical organisation for facilitating development of the power sector in the country. During the meeting held in December, the CEA reviewed the progress of 22 mines, including NTPC's Chatti Bariatu, Talaipalli and Pakri Barwadih blocks; Essar Power and Hindalco's Mahan block; Mandakani 'A' block jointly allotted to Tata Power, Monnet Ispat & Energy and Jindal Photo, and Ganeshpur block given to Tata Steel and Adhunik Power & Natural Resources Ltd.
The coal ministry has allocated 88 captive blocks with geological reserves of about 1.37 billion tonnes of coal for power generation.
NTPC stock price
On January 14, 2014, NTPC closed at Rs 131.40, down Rs 1.35, or 1.02 percent. The 52-week high of the share was Rs 167.25 and the 52-week low was Rs 122.65.
The company's trailing 12-month (TTM) EPS was at Rs 14.55 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 9.03. The latest book value of the company is Rs 97.49 per share. At current value, the price-to-book value of the company is 1.35.
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