Coal Ministry to review status of formation of JV companies, SPV.

The Coal Ministry has convened a meeting next week to review the progress on setting up special purpose vehicles (SPV) and joint ventures among state-owned firms which have been jointly allocated coal blocks.

'To review the current status of progress made in formation of SPV/JV company amongst the state government companies/corporations, those have been allocated coal blocks jointly for end use i.e. power as well as mining, Additional Secretary, Ministry of Coal will hold meeting with the representative of the state government on May 7,' the meeting notice said.

'During the last review meeting...regarding the progress of formation of special purpose vehicle/ Joint venture (company) between joint allocates of coal blocks...it was observed that, some of the joint allocates are lagging behind in formation of SPV/JV,' it said.

The Coal Ministry had earlier asked states to advise the companies that have been allocated mines to either form SPVs or JVs for projects.



ET