PSEB Punjab Electricity Board
Re: PSEB Punjab Electricity Board
You want to know about PSEB Punjab Electricity Board Coal Mining Joint Venture Company allotment so following is its information:
To meet the coal requirements for its upcoming thermal power stations, PSEB proposes to develop new Coal Mines / Blocks for supply of quality coal to its power stations. Coal Mines / Blocks with minimum mining capacity of 500 Million Metric Tonnes shall be got allotted in the name of Punjab State Electricity Board from Ministry of Coal Govt of India through "Government Dispensation route" .
Status of the Joint Venture Company PSEB will apply for allotment of coal blocks under 'Govt. Dispensation Route' from Ministry of Coal, Govt of India. To meet procedural compliances required for operation of coal blocks allocated under 'Govt. Dispensation Route', PSEB will form a Joint Venture with 51% equity share of PSEB and balance equity will be of the party bidding for JVC. Paid up capital of JVC will be Rs.10 crores (Rupees Ten crores) . Beyond 51% of this paid up capital, PSEB will not make any investment in future.
The selected party is supposed to handle all the pre operative and post operative functions so that regular coal supply to PSEB Thermal Plants is assured. For this although PSEB will extend all its support / procedural assistance but would like that all day to day affairs and getting various clearances / licenses etc at any stage is to be handled by the selected JV partner. The JVC partner of PSEB shall have all operative freedom. There shall be eight Directors of the JVC with equal representation by PSEB. Accordingly, four Directors (including Chairman of the Company) are to be from PSEB and four Directors ( including Managing Director of the Company) is to be that of company entering Joint Venture with PSEB.
Complete information is given in attached pdf file which is free for you.
Answered By StudyChaCha
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