Punjab Newsline
PSEB to set up joint venture company for coal production
VINOD KUMAR GUPTA
Wednesday, 27 May 2009
CHANDIGARH: PSEB has decided to set up a joint venture company to undertake mining operations at coal blocks allocated to the board by Ministry of Coal.

Ministry of coal has allocated a coal blocks to PSEB with a minimum capacity of 500 million tones through the government dispensation route.

PSEB has planned a capacity addition of 6440 MW through thermal plants to be set up at Talwandi Sabo, Rajpura, and Gidderwaha in the state. These thermal plants would require 31.2 million tones of coal per annum for these projects.

PSEB is now looking for a partner for a joint venture Company who will look after all coal supply and production related issues. The company will select and identify the coal blocks and then develop the site to ensure coal supply to new thermal projects.

PSEB will have 51 percent stake in joint venture Company which would be set up with initial funding of 10 crores. PSEB and chosen partner would have equal members in the new company board.
According to sources PSEB has already a joint venture company Panem with partnership with EMTA. This company is supplying 6 lakh tones of coal to PSEB for its existing thermal power houses.