It’s official! 3 coal blocks to be re-allocated to NTPC
BY PTI22 Jan 2013 12:01 AM GMT
PTI22 Jan 2013 12:01 AM GMT
Power Minister (Independent Charge) Jyotiraditya Scindia on Monday said that three forfeited coal blocks of NTPC would be re-allocated to the state-owned company on Tuesday as the approval is expected by the Law Ministry's by then.
The three coal blocks likely to be re-allocated to NTPC are — Chatti-Bariatu, Kerandari and Chatti-Bariatu (South). 'The three coal blocks of NTPC would be re-allocated to the company by Tuesday after Law Ministry's approval, which is expected by Monday or Tuesday,' he said.
The blocks were taken back from NTPC by the Coal Ministry because of long delays in developing them. Meanwhile, Coal Minister Shriprakash Jaiswal said on the re-allocation of coal blocks to NTPC: 'The matter is being looked into and would be resolved soon.' The two ministers gave comments to the media after their meeting with Finance Minister P Chidambaram on the issue of re-allocation of coal blocks to NTPC. The government plans to sell stake in the country's largest power producer within this fiscal ending 31 March. It proposes to divest 9.5 per cent stake in NTPC via Offer for Sale (auction) route, which could reap over Rs 12,000 crore for the exchequer. The government has proposed to raise Rs 30,000 crore by way of disinvestment in 2012-13. It has been able to realise just over Rs 6,900 crore so far. Disinvestment of Oil India and NTPC is lined up for January and February.
The government holds 84.5 per cent stake in the NTPC. Post-disinvestment, its stake would come down to 75 per cent.
Re-allocation of the coal blocks would boost the overall market valuation of NTPC, which is grappling with fuel shortages. Better share prices, during disinvestment, would in turn help in fetching higher returns for the government, which is hard-pressed for resources.
Q3 NET PROFIT SOARS 22%
State-run power producer NTPC on Monday reported a nearly 22 per cent jump in net profit at Rs 2,596.76 crore in the third quarter ended December 2012.
NTPC had a net profit of Rs 2,130.39 crore in the same period a year ago. In a filing to the BSE, the company said its total income in the third quarter of current fiscal rose to Rs 16,529.55 crore from Rs 16,244.41 crore in the three months ended December 2011.
Currently, NTPC has a generation capacity of 39,674 MW and the same is expected to go up to 1,28,000 MW by 2032.
The three coal blocks likely to be re-allocated to NTPC are — Chatti-Bariatu, Kerandari and Chatti-Bariatu (South). 'The three coal blocks of NTPC would be re-allocated to the company by Tuesday after Law Ministry's approval, which is expected by Monday or Tuesday,' he said.
The blocks were taken back from NTPC by the Coal Ministry because of long delays in developing them. Meanwhile, Coal Minister Shriprakash Jaiswal said on the re-allocation of coal blocks to NTPC: 'The matter is being looked into and would be resolved soon.' The two ministers gave comments to the media after their meeting with Finance Minister P Chidambaram on the issue of re-allocation of coal blocks to NTPC. The government plans to sell stake in the country's largest power producer within this fiscal ending 31 March. It proposes to divest 9.5 per cent stake in NTPC via Offer for Sale (auction) route, which could reap over Rs 12,000 crore for the exchequer. The government has proposed to raise Rs 30,000 crore by way of disinvestment in 2012-13. It has been able to realise just over Rs 6,900 crore so far. Disinvestment of Oil India and NTPC is lined up for January and February.
The government holds 84.5 per cent stake in the NTPC. Post-disinvestment, its stake would come down to 75 per cent.
Re-allocation of the coal blocks would boost the overall market valuation of NTPC, which is grappling with fuel shortages. Better share prices, during disinvestment, would in turn help in fetching higher returns for the government, which is hard-pressed for resources.
Q3 NET PROFIT SOARS 22%
State-run power producer NTPC on Monday reported a nearly 22 per cent jump in net profit at Rs 2,596.76 crore in the third quarter ended December 2012.
NTPC had a net profit of Rs 2,130.39 crore in the same period a year ago. In a filing to the BSE, the company said its total income in the third quarter of current fiscal rose to Rs 16,529.55 crore from Rs 16,244.41 crore in the three months ended December 2011.
Currently, NTPC has a generation capacity of 39,674 MW and the same is expected to go up to 1,28,000 MW by 2032.
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