Representative Image (Photo: PTI)
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Vedanta Arm Balco Wins Bid For 900 Mn Tonne Coal Block In Chhattisgarh
Vedanta Ltd on Wednesday said that its arm Balco has won the bid for a coal block in Chhattisgarh
Topics
Coal mines | coal blocks | Coal
Vedanta Ltd on Wednesday said that its arm Balco has won the bid for a coal block in Chhattisgarh.
The company emerged as successful bidder for the mine during the fourth round of commercial coal mine auction conducted by the government.
"The coal block is an optimal fit for Balco, given its logistical location," Vedanta said in a filing to BSE.
Once operational, the mine will provide fuel security, enhance power availability, and further strengthen Balco's operations and performance.
The block has estimated reserves of 900 million tonnes.
Balco was incorporated in 1965 as the first public sector undertaking in the country.
In 2001 the Centre disinvested 51 per cent shares of Bharat Aluminium Company Ltd (BALCO) to Sterlite Industries Limited, a subsidiary of Vedanta Limited. The remaining 49 per cent is with the Centre.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Wed, October 19 2022. 16:44 IST
RECENT NEWS
Monzo Looks For US Banking License
Monzo is preparing a renewed push to secure a US banking licence, four years after abandoning its first attempt when tal... Read more
Crypto Firms Push Into US Banking
America’s cryptocurrency companies are scrambling to secure a foothold in the country’s traditional banking system, ... Read more
Parallel Banking: Stablecoins Are Now Global
Parallel Banking: How Stablecoins Are Building a New Global Payments SystemStablecoins—digital currencies pegged to tr... Read more
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more