Coal Mining Scams INC $30b to 500 Cos, BJP $25b to 10 Cos
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Coal Mining Scams INC $30b to 500 Cos, BJP $25b to 10 Cos
September08, 2014 (C) Ravinder Singh ravinderinvent@gmail.com
When auctioning of Coal Blocks to around 500 companies since 1993
resulted in $30b Loss to GOI but BJP had implemented a $25b New Scam
in just first three months – Sell Coal India Limited (PSU) produced
Coal at Rs.2500/- per tone toss. INC Scam as per CAG report was at a
rate of Rs.37 per tone loss – Rs.186,000 cr for 5000 crore tones of
coal but mining didn’t commence in 90% cases.
As given in the TOI chart it is clear Sale of 600 million tones would
result in $25b Loss to India from just 10 accounts.
This SCAM is going to WIDEN as other power producers too shall demand
similar TERMS of sale –
http://www.wrldc.com/9_reportNew%5Cdailydata_06092014.pdf
WESTERN Region has over 80,671MW electricity plus over 10,000 MW of
Renewable Power – peak demand is barely 36,223 MW.
32.9% Thermal Power Generation Growth – METERING SCAM
Last year also Peak Demand was around 36,000 MW for Western Grid but
as per MoP data there is 32.9% growth in thermal power generation and
20.8% growth in average generation for August2014.
Obviously there is Negligible Growth of power use by Industry,
Business, Office Use and Domestic use is barely 15% in Western Region
approximately – than How Can Western Region Absorb 20.8% overall
growth in power consumption?
When India was expected to have 50,000 MW of Solar Power by now –
actual installation of Clean Energy source is barely 2000 MW – GoI has
not promoted Cheapest Solar Rooftops Peaking Day Time Power – FREE
CONSIDERING CARBON CREDITS.
Prime Minister should intervene in this urgently.
There is no cut in Power Tariff when Generation Levels are Up 30%,
Fixed and Variable Costs are substantially reduced.
Of 12 BU growth in Thermal Power Generation in August in India, over 6
BU had come in Western Region therefore Gain of roughly Rs.3000 crores
on Reduced Cost of Coal Used but not passed on to Consumers.
Ravinder Singh, Inventor & Consultant,
INNOVATIVE TECHNONLOGIES AND PROJECTS
Y-77, Hauz Khas, New Delhi-110016, India. Ph; 091- 9718280435, 9650421857
Ravinder Singh* is a WIPO awarded inventor specializing in Power,
Transportation, Water, Energy Saving, Agriculture, Manufacturing,
Technologies and Projects.
Pvt cos to make Rs 6,000cr/yr killing on govt rescue plan
Sep 08 2014 The Times of India (Ahmedabad)
9 Power Firms To Get Cheap Coal From CIL
Nine private companies stand to make a killing of over Rs 6,000 crore
per year at the cost of existing generation stations if the government
clears the power ministry's proposal to give coal linkage ¬ supply
allotment from Coal India Ltd's mines ¬ to new and upcoming power
projects stranded in the absence of fuel supply arrangements.
The nine private power projects account for 10,580mw, and as
government documents indicate, would corner over 24 million tonnes of
domestic coal a year ¬ enough to run a 5,000mw plant or feed Delhi's
demand. They would get this coal at a price of Rs 1,500 per tonne
notified by the government. Without government intervention, they
would have to source coal from the open market ¬ either import or buy
in CIL's e-auction ¬ at roughly Rs 4,000 a tonne.
The price differential works out to a benefit of Rs. 6,085 crore per
year. The total benefit over the 25-year life span of a power project
would be Rs 1.52 lakh crore ¬ a tad lower than the Rs 1.86 lakh crore
windfall gains to private firms estimated in the federal auditor's
Coalgate report. The ministry's proposal is aimed at preventing public
and private investments, made to create 18,580mw generation capacity,
from turning sour and triggering a nightmare for bankers. These are
promoters whose mines have been de-allocated on various counts or are
stuck in the CBI's Coalgate probe. The plan would also help three
promoters who planned their projects on imported coal but later sought
domestic fuel.
But the timing of the move raises several questions since many power
stations are facing coal shortage. Some of them, including those run
by state-run utility NTPC, have shut down a unit or two due to coal
shortage. Some 28 others have coal stocks for less than four days.
There are yet other projects that have been completed on the basis of
LoAs (letters of assurance) and are waiting to sign fuel supply
agreements (FSA) with CIL. FSAs are signed on the basis of LoAs. Nine
private companies stand to make a killing of over Rs 6,000 crore per
year at the cost of existing generation stations if the government
clears the power ministry's proposal to give coal linkage to upcoming
power projects stranded in absence of fuel supply arrangements.
There are yet other projects that have been completed on the basis of
LoAs (letters of assurance) and are waiting to sign fuel supply
agreements (FSA) with CIL. FSAs are signed on the basis of LoAs.
In contrast, the nine projects do not have LoAs but would get firm
supply if the power ministry's proposal goes through. Sources said the
coal ministry had previously shot down the plan on the ground that it
would be legally untenable.
There is an opinion in the coal ministry that diversion of cheaper
coal to private entities when central and state generators, as well as
projects with FSAs, are starving would be hard to defend.
But power and coal minister Piyush Goyal denied any discord between
his two ministries. “I can tell you there is no difference. There were
some issues that were raised, which helped us make things clearer.
This is the beauty of this government. It works seamlessly”, he told
TOI on Sunday.
Earlier in a press conference, he said the government was working
towards fulfilling its Budget promise of providing adequate coal to
all projects that are already commissioned or would be commissioned by
March 2015.
September08, 2014 (C) Ravinder Singh ravinderinvent@gmail.com
When auctioning of Coal Blocks to around 500 companies since 1993
resulted in $30b Loss to GOI but BJP had implemented a $25b New Scam
in just first three months – Sell Coal India Limited (PSU) produced
Coal at Rs.2500/- per tone toss. INC Scam as per CAG report was at a
rate of Rs.37 per tone loss – Rs.186,000 cr for 5000 crore tones of
coal but mining didn’t commence in 90% cases.
As given in the TOI chart it is clear Sale of 600 million tones would
result in $25b Loss to India from just 10 accounts.
This SCAM is going to WIDEN as other power producers too shall demand
similar TERMS of sale –
http://www.wrldc.com/9_reportNew%5Cdailydata_06092014.pdf
WESTERN Region has over 80,671MW electricity plus over 10,000 MW of
Renewable Power – peak demand is barely 36,223 MW.
32.9% Thermal Power Generation Growth – METERING SCAM
Last year also Peak Demand was around 36,000 MW for Western Grid but
as per MoP data there is 32.9% growth in thermal power generation and
20.8% growth in average generation for August2014.
Obviously there is Negligible Growth of power use by Industry,
Business, Office Use and Domestic use is barely 15% in Western Region
approximately – than How Can Western Region Absorb 20.8% overall
growth in power consumption?
When India was expected to have 50,000 MW of Solar Power by now –
actual installation of Clean Energy source is barely 2000 MW – GoI has
not promoted Cheapest Solar Rooftops Peaking Day Time Power – FREE
CONSIDERING CARBON CREDITS.
Prime Minister should intervene in this urgently.
There is no cut in Power Tariff when Generation Levels are Up 30%,
Fixed and Variable Costs are substantially reduced.
Of 12 BU growth in Thermal Power Generation in August in India, over 6
BU had come in Western Region therefore Gain of roughly Rs.3000 crores
on Reduced Cost of Coal Used but not passed on to Consumers.
Ravinder Singh, Inventor & Consultant,
INNOVATIVE TECHNONLOGIES AND PROJECTS
Y-77, Hauz Khas, New Delhi-110016, India. Ph; 091- 9718280435, 9650421857
Ravinder Singh* is a WIPO awarded inventor specializing in Power,
Transportation, Water, Energy Saving, Agriculture, Manufacturing,
Technologies and Projects.
Pvt cos to make Rs 6,000cr/yr killing on govt rescue plan
Sep 08 2014 The Times of India (Ahmedabad)
9 Power Firms To Get Cheap Coal From CIL
Nine private companies stand to make a killing of over Rs 6,000 crore
per year at the cost of existing generation stations if the government
clears the power ministry's proposal to give coal linkage ¬ supply
allotment from Coal India Ltd's mines ¬ to new and upcoming power
projects stranded in the absence of fuel supply arrangements.
The nine private power projects account for 10,580mw, and as
government documents indicate, would corner over 24 million tonnes of
domestic coal a year ¬ enough to run a 5,000mw plant or feed Delhi's
demand. They would get this coal at a price of Rs 1,500 per tonne
notified by the government. Without government intervention, they
would have to source coal from the open market ¬ either import or buy
in CIL's e-auction ¬ at roughly Rs 4,000 a tonne.
The price differential works out to a benefit of Rs. 6,085 crore per
year. The total benefit over the 25-year life span of a power project
would be Rs 1.52 lakh crore ¬ a tad lower than the Rs 1.86 lakh crore
windfall gains to private firms estimated in the federal auditor's
Coalgate report. The ministry's proposal is aimed at preventing public
and private investments, made to create 18,580mw generation capacity,
from turning sour and triggering a nightmare for bankers. These are
promoters whose mines have been de-allocated on various counts or are
stuck in the CBI's Coalgate probe. The plan would also help three
promoters who planned their projects on imported coal but later sought
domestic fuel.
But the timing of the move raises several questions since many power
stations are facing coal shortage. Some of them, including those run
by state-run utility NTPC, have shut down a unit or two due to coal
shortage. Some 28 others have coal stocks for less than four days.
There are yet other projects that have been completed on the basis of
LoAs (letters of assurance) and are waiting to sign fuel supply
agreements (FSA) with CIL. FSAs are signed on the basis of LoAs. Nine
private companies stand to make a killing of over Rs 6,000 crore per
year at the cost of existing generation stations if the government
clears the power ministry's proposal to give coal linkage to upcoming
power projects stranded in absence of fuel supply arrangements.
There are yet other projects that have been completed on the basis of
LoAs (letters of assurance) and are waiting to sign fuel supply
agreements (FSA) with CIL. FSAs are signed on the basis of LoAs.
In contrast, the nine projects do not have LoAs but would get firm
supply if the power ministry's proposal goes through. Sources said the
coal ministry had previously shot down the plan on the ground that it
would be legally untenable.
There is an opinion in the coal ministry that diversion of cheaper
coal to private entities when central and state generators, as well as
projects with FSAs, are starving would be hard to defend.
But power and coal minister Piyush Goyal denied any discord between
his two ministries. “I can tell you there is no difference. There were
some issues that were raised, which helped us make things clearer.
This is the beauty of this government. It works seamlessly”, he told
TOI on Sunday.
Earlier in a press conference, he said the government was working
towards fulfilling its Budget promise of providing adequate coal to
all projects that are already commissioned or would be commissioned by
March 2015.
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