Coal and Power Minister Piyush Goyal has asserted that investors need have no concern over the ordinance route taken by the Centre for the auction of coal blocks and the entire process will generate more than $100 billion in royalties and proceeds for various States.
In an interview at the World Economic Forum (WEF) here, the Minister, who met existing and potential investors in the power and coal sectors, said: “I don’t think there is any cause for concern for any investor whatsoever.”
Asked about the revenue to be generated from the auction, Mr. Goyal said: “I believe that the eastern states, particularly West Bengal, Odisha, Jharkhand and Chhattisgarh and to a smaller extent, Telangana, Maharashtra, Madhya Pradesh and Bihar, stand to gain not less than Rs.5-7 lakh crore, which is over $100 billion, over the next 30 years. Apart from that, power tariffs will come down significantly.”
