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Web Exclusive | November 2012

Crisil to clarify draft report on reserve pricing

Crisil, which prepared a draft report on the pricing of coal block, is expected to make a presentation to Coal Secretary SK Srivastava and the officials of power, steel and other ministries.

It is learnt that some of the ministries like power and steel held consultations with Crisil on the report on fixing reserve prices for 54 coal blocks to be allocated through competitive bidding route.

In its draft report, Crisil suggested that the valuation of coal reserves to be put up for bidding should be linked to international prices.

The coal ministry has asked the firm to make presentation on its draft report on coal blocks before it as there are a lot of complex issues, including valuation (of coal blocks) involved in it.

It had also suggested that in case of blocks for the power sector and other public sector companies, the government should provide discount as otherwise it would lead to increase in electricity tariff.

The government is likely to begin the process of allocating coal blocks through competitive bidding route by the year-end.

The Coal Ministry has identified 54 new coal blocks for auction to the bidders for captive use in different sectors -- 16 for power, 12 for steel and 12 for government firms, among other sectors.

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