Home INDIA & BEYOND Coal block de-allocation will risk crores invested, says Jindal

Coal block de-allocation will risk crores invested, says Jindal

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New Delhi, Sep 23 :

Jindal Steel and Power (JSPL) chairman Naveen Jindal Tuesday said he was confident about getting justice from the Supreme Court in the coal block allocations case.

Navin Jindal
Navin Jindal

“I have full faith in judiciary and I respect it. We will definitely get justice. We have done a lot of good work,” Jindal told media persons here on the sidelines of an Indian Chamber of Commerce-organised conference on coal.

The Supreme Court last month held that allocations of all blocks made between 1993 and 2010 were done in an illegal and ad hoc manner, while earlier this month reserving its order on their deallocation.

The coal ministry had allocated JSPL captive coal blocks for its end-use plants in Odisha and Jharkhand.

Jindal said earlier this month that about Rs.400,000 crore of investment made to develop coal mines would be in jeopardy if the blocks were to be de-allocated.

“If we term the government’s coal allocation policy as faulty and illegal, then the effort put in by the investors to revive the discarded mines of Coal India, the entire Rs.4 lakh crore investment would be in jeopardy,” Jindal had said.

(IANS)