To ease stress in the power generation sector, a Central Electricity Authority (CEA)
panel has recommended that state distribution companies make advance payments to
producers. Besides, the high-level committee, under CEA Chairman Prakash Mhaske,
has suggested that power generation companies take legal action over non-payment
by distribution companies.
Five Federations representing about five lakh coal workers in Coal India Limited (CIL)
and other government-owned coal companies, and Singareni Collieries Company
Limited (SCCL) have given notice to the Centre that they will observe one-day strike on
The strike notice served to Chief labour Commissioner, CIL Chairman, Managing
Director of SCCL and the executives of other public-sector coal companies urged the
Centre to withdraw the decision to allow 100% FDI in coal mining. The federations have
also demanded that all subsidiaries of CIL such as ECL, BCCL, CCL, CMPDL, SECL,
MCL should be merged into CIL and it should be treated as one company.
JSW Steel is planning to raise about $350 million (Rs 2,520 crore) from overseas loans,
which should help it reduce borrowing costs as it navigates a profit margin squeeze due
to a fall in steel prices and integrates recent acquisitions such as of Monnet Ispat.
Finance Minister Nirmala Sitharaman and senior ministry officials met representatives of
infrastructure companies like Hindustan Construction Corp, NHAI, Ircon, and others.
They discussed issues related to financing, land, capital and environmental clearances.
There were suggestions on how to speed up execution of projects. They also discussed
standardisation of contract documents to reduce dispute and how difficult it was
becoming for companies to realize cash flows because of arbitration