JVC for coal block signed

The Haryana Power Generation Corporation Limited and Indraprastha Power Generation Corporation Limited.

The Haryana Power Generation Corporation Limited (HPGCL) and Indraprastha Power Generation Corporation Limited (IPGCL) signed an agreement for the formation of a joint venture company (JVC) for the development of a coal block in Singrauli, in Madhya Pradesh.

The agreement was signed by the Managing Director of HPGCL Sanjeev Kaushal and Managing Director of IPGCL R K Gaur in the presence of Financial Commissioner and Principal Secretary (Power) Haryana, Ashok Lavasa.

Speaking on the occasion, Lavasa said the demand of electricity has been increasing and the development of the coal block will help to meet the power generation requirements of Haryana and Delhi.

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Union Ministry of coal had allocated a coal block to HPGCL and the government of National Capital Territory of Delhi under the government company dispensation scheme. As per the preliminary site investigation 25 per cent of the coal seam is near the surface while the remaining 75 per cent is underground. A 2,000 MW power plant at the pithead maybe set up to avoid hassle of transportation of coal.

The projected power generation of 2,000 MW will be done by mining 25 per cent coal near the surface and can be increased substantially by carrying out underground mining.

The name of the JVC has been proposed as Yamuna Coal Company Pvt Ltd 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.

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