Govt will not split Coal India: Piyush Goyal
30/06/2014 13:02
Putting speculation of breaking up state behemoth Coal India (CIL) to rest, power and coal minister Piyush Goyal has said the new government will not split the world's largest coal miner but will work to smoothen the edges and improve its performance, reported PTI. The new government wants to fix the coal sector quickly to ensure uninterrupted electricity supply across the country, said the media report. Coal is the cheapest fuel and is used to generate more than half of India's power. India is home to the world's fifth-largest reserves of coal but delays in environmental approvals, land acquisition problems and inefficient systems have made the country the third-biggest importer. Banker-turned-politician Goyal, 50, believes the problems can be fixed by keeping as one company. He saw great strength and benefit in keeping CIL, which accounts for 80 per cent of India's coal output, as one company instead of converting its seven units independent entities to unlock value and increase efficiency.
30/06/2014 13:02
Putting speculation of breaking up state behemoth Coal India (CIL) to rest, power and coal minister Piyush Goyal has said the new government will not split the world's largest coal miner but will work to smoothen the edges and improve its performance, reported PTI. The new government wants to fix the coal sector quickly to ensure uninterrupted electricity supply across the country, said the media report. Coal is the cheapest fuel and is used to generate more than half of India's power. India is home to the world's fifth-largest reserves of coal but delays in environmental approvals, land acquisition problems and inefficient systems have made the country the third-biggest importer. Banker-turned-politician Goyal, 50, believes the problems can be fixed by keeping as one company. He saw great strength and benefit in keeping CIL, which accounts for 80 per cent of India's coal output, as one company instead of converting its seven units independent entities to unlock value and increase efficiency.
