Power, coal ministries resolve issues, fuel supply agreements to be inked in a month
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Coal India will offer the same contractual terms and conditions to both public and private power plants for fuel supply, ending the current practice of discrimination against private players, coal minister Sriprakash Jaiswal said on Friday.
"We have taken a joint decision that there will be no distinction. Modalities related to the issues will be decided by the companies concerned," power minister Jyotiraditya Madhavrao Scindia said after meeting the coal minister.
The power ministry had earlier protested the CIL practice of offering relatively unfavourable terms to private companies in fuel supply agreements ( FSAs).
The FSA proposed by CIL offered favourable terms to PSU power projects in case of termination of agreement, provision of security deposit, suspension of coal supplies and settlement of disputes.
After nearly two-hour long meeting with power minister, coal minister Sriprakash Jaiswal said most of the issues have been resolved. "Most of the issues related to FSAs have been addressed. The FSAs (between power companies and CIL) are likely to be signed in a month's time," Jaiswal told reporters.
Noting that he had a "freewheeling and positive discussion" with the coal minister, Scindia said the power companies would sign FSAs over the next month.
The meeting was also attended by top officials of both power and coal ministries besides Coal India chairman
S Narsing Rao.