Wed, 25 Jan, 2012,
NEW DELHI: Industry body Ficci has suggested privatisation of CIL to improve coal production at a time when power plants are facing an acute fuel shortage.
"Either you privatise or break it up (Coal India) into several independent units, not keep it centralised... You have to do something drastic," Ficci's new President Rajya Vardhan Kanoria said.
His comments come at a time when most power projects are grappling with a severe coal shortage, mainly on account of lower domestic production.
"... I think that why don't they (government) strategically divest Coal India to make it private. It will serve two purposes: one is that it will make sure revenue for the government and second, (change in) culture. The culture has to change," Kanoria said.
"The coal problem is becoming serious. One is pricing and the other is availability," he noted.
Even though fuel linkages have been assured for many projects, Coal India has been unable to meet demand. As a result, entities are importing coal at higher prices from overseas.
"The government is lacking in their approach in the coal sector. Some serious decisions have to be taken (with regard to coal issue)... There is coal. India has one of the largest reserves," he said.
State-run Coal India had missed its April-September production target of 196 MT, recording an output of just 176 MT. The entity had blamed adverse weather, including heavy rains in August-September, for the fall in production.
The PSU missed its revised production target last fiscal as well, recording an output of just 431 MT against the commitment of 460.5 MT.
As per the Central Electricity Authority (CEA), as many as 40 thermal power stations had coal stocks for less than seven days as of January 23.
Last week, the head honchos of private power producers met Prime Minister Manmohan Singh to apprise him of various problems faced by the sector, including fuel shortages.
(sourced ET)
Showing posts with label privatization. Show all posts
Showing posts with label privatization. Show all posts
Wednesday, January 25, 2012
Wednesday, November 2, 2011
Mr Cheema advocates privatisation of Pakistan Steel Mills
Wednesday, 02 Nov 2011
The Express Tribune reported that Pakistan’s Federal Production Minister Mr Anwar Ali Cheema has proposed to the government to privatise Pakistan Steel Mills, describing it as a sick unit whose losses are getting out of control.
He said “As the government is unable to operate the steel mill due to unbearable financial burden, it is better to privatize it.”
He said the steel mill had sought a PKR 10 billion bailout package but the production ministry recommended only PKR 2 billion to ease the industrial giant’s financial woes.
He said that “The mill has 21,000 employees, of which 50% are a burden on the government and that the ministry had asked the government to cut half of the workforce.”
(Sourced from The Express Tribune)
The Express Tribune reported that Pakistan’s Federal Production Minister Mr Anwar Ali Cheema has proposed to the government to privatise Pakistan Steel Mills, describing it as a sick unit whose losses are getting out of control.
He said “As the government is unable to operate the steel mill due to unbearable financial burden, it is better to privatize it.”
He said the steel mill had sought a PKR 10 billion bailout package but the production ministry recommended only PKR 2 billion to ease the industrial giant’s financial woes.
He said that “The mill has 21,000 employees, of which 50% are a burden on the government and that the ministry had asked the government to cut half of the workforce.”
(Sourced from The Express Tribune)
Thursday, August 25, 2011
Ukraine plan to permit privatization of thermal power plants
Thursday, 25 Aug 2011
Ukrainian cabinet has proposed to permit the privatization of heat generation companies as a part of the realization of a concept for a national heat supply strategy in Ukraine by 2030.
The requirement is stipulated in a draft cabinet resolution on the approval of a concept for a national strategy for heat supply to Ukrainian cities and towns until 2030, which has been posted on the Web site of the Ukrainian Regional Development, Construction and Housing and Utilities Ministry.
Sources of heat generation are thermal power plants, combined heat power plants and cogeneration plants.
According to the document, the lifting of a ban on the privatization of the said companies will permit a structural reorganization and develop competition in the heat supply area. In addition, the cabinet is planning to attract private capital under leasing and concession agreements, introduce principles of competition among heat producers and suppliers and reorganize municipal unitary companies into separate companies.
The approximate cost of the project's realization is estimated at UAH 50 billion to UAH 60 billion including UAH 14.9 billion from the national budget as a part of the realization of state programs on the energy efficiency of buildings and heat supply systems. If the resolution is passed, the Regional Development, Construction and Housing and Utilities Ministry, jointly with other executive power bodies are to draw up the draft strategy by January 1 2012 and submit it to the cabinet.
(sourced from Inerfax)
Ukrainian cabinet has proposed to permit the privatization of heat generation companies as a part of the realization of a concept for a national heat supply strategy in Ukraine by 2030.
The requirement is stipulated in a draft cabinet resolution on the approval of a concept for a national strategy for heat supply to Ukrainian cities and towns until 2030, which has been posted on the Web site of the Ukrainian Regional Development, Construction and Housing and Utilities Ministry.
Sources of heat generation are thermal power plants, combined heat power plants and cogeneration plants.
According to the document, the lifting of a ban on the privatization of the said companies will permit a structural reorganization and develop competition in the heat supply area. In addition, the cabinet is planning to attract private capital under leasing and concession agreements, introduce principles of competition among heat producers and suppliers and reorganize municipal unitary companies into separate companies.
The approximate cost of the project's realization is estimated at UAH 50 billion to UAH 60 billion including UAH 14.9 billion from the national budget as a part of the realization of state programs on the energy efficiency of buildings and heat supply systems. If the resolution is passed, the Regional Development, Construction and Housing and Utilities Ministry, jointly with other executive power bodies are to draw up the draft strategy by January 1 2012 and submit it to the cabinet.
(sourced from Inerfax)
Tuesday, February 1, 2011
Over 20 investment banks HSBC, Deutsche, Credit Suisse, Citi and more banks to pitch for Mongolian mine privatization
Tuesday, Feb1, 2011
Over 20 investment banks will next month submit written proposals for the privatisation of Mongolia's Tavan Tolgoi coal mines that could value it at up to $8 billion, The Independent on Jan 30 reported.
The newspaper said bankers from HSBC, Deutsche, Credit Suisse, Citi and Macquarie are among those who will present proposals to list the coal group in either Hong Kong, London or give it a dual listing.
It said presentations will be held between Feb 10 and 15 in the Mongolian capital Ulan Bator, with six banks expected to win roles in the flotation, expected by the first half of next year.
Tavan Tolgoi, which could become one of the world's largest coal mines, is owned by Mongolian government entity Erdenes MGL. (sourced:reuters)
Over 20 investment banks will next month submit written proposals for the privatisation of Mongolia's Tavan Tolgoi coal mines that could value it at up to $8 billion, The Independent on Jan 30 reported.
The newspaper said bankers from HSBC, Deutsche, Credit Suisse, Citi and Macquarie are among those who will present proposals to list the coal group in either Hong Kong, London or give it a dual listing.
It said presentations will be held between Feb 10 and 15 in the Mongolian capital Ulan Bator, with six banks expected to win roles in the flotation, expected by the first half of next year.
Tavan Tolgoi, which could become one of the world's largest coal mines, is owned by Mongolian government entity Erdenes MGL. (sourced:reuters)
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