NEW DELHI: The government on Tuesday said of the 28 coal mining projects identified to be operated through mining operators-cum-developers, 18 mines have been awarded to leading private firms.
The engagement of these mining developers-cum-operators (MDOs) promises to make substantial contributions to coal production, ensuring both enhanced output and operational excellence.
“Initially, Coal India Ltd (CIL) identified 15 coal mine projects with a combined capacity of 168 MT (million tonnes) for MDO implementation. This number has now expanded to 28 projects (18 opencast and 10 underground mines) with a total capacity of 257 MT.
New SHCIL MD &CEO
NEW DELHI: StockHolding Corporation of India Limited (SHCIL), a subsidiary of state-owned Industrial Finance Corporation of India (IFCI Ltd), on Tuesday announced the appointment of Atul Saxena as the MD and CEO.
His appointment is effective from August 5, 2024, SHCIL said in a statement. In his previous role as Managing Director of IFCI Infrastructure Development Ltd, it said, Saxena steered the company through the challenging times of the COVID-19 pandemic.
Punjab CM blames NHAI
CHANDIGARH: Punjab Chief Minister Bhagwant Mann on Tuesday blamed the NHAI and its contractors for the delayed land acquisition for highway projects, days after Union minister Nitin Gadkari warned of terminating road projects in the state citing law and order situation.
The chief minister wrote a letter to the Union road transport and highways minister, saying the state government is committed to speedy execution of projects and barring a few exceptions, most of the road projects in Punjab are on track.
On August 9, Gadkari wrote a letter to the chief minister and said that the NHAI will have no other option but to cancel/terminate eight highway projects in Punjab with total length of 293 km costing Rs 14,288 crore, if the law and order situation does not improve.
Hero Q1 profit jumps
NEW DELHI: Hero MotoCorp on Tuesday reported a 47 per cent jump in consolidated profit after tax at Rs1,032 crore in the first quarter ended June 2024, aided by higher sales.
The country’s largest two-wheeler maker had reported a profit after tax (PAT) of Rs 701 crore in April-June period a year ago.
Revenue from operations rose to Rs 10,211 crore from Rs 8,851 crore, Hero MotoCorp said in a regulatory filing.
