Day: November 2, 2023

Workshop on Customised Debt-Financing for Commercial Coal Mining & MDOs

 REC Limited, has organised a workshop on ‘Customised Debt-Financing for Commercial Mining & MDOs’ recently in New Delhi. The workshop witnessed participation by Shri Amrit Lal Meena, Secretary, Ministry of Coal, Shri M Nagaraju, Additional Secretary and Nominated Authority, Ministry of Coal, Shri Vivek Kumar Dewangan, Chairman and Managing Director, REC Ltd. along with other senior functionaries from the coal industry and government.

The workshop commenced with a warm welcome by Shri Vivek Kumar Dewangan. In his opening remarks, Shri Dewangan expressed that REC is willing to be a partner in the growth journey of mining industry in the country.

 

During the keynote address, Shri Amrit Lal Meena, Secretary Coal, has urged banks and non-banking financial companies to find appropriate solutions while working on the proposals placed before them regarding credit availability for commercial coal mines. He reiterated that coal mining is a good and profitable long-term business with assured returns starting from 3-4 years of the allocation of the coal mines. Shri Meena appreciated the initiative of REC and its commitment to strike a balance between sustainable development and financial viability of the mining sector in compliance with the ESG norms and willingness to be a partner in the growth journey of the mining industry. He also highlighted the necessity of efficiently closing coal mines once they reach the end of their operational life and rejuvenate such exhausted mines for sustainable endeavours like Pumped Storage facilities, Solar Parks etc. The Secretary reassured the commitment to sustainable methods of mining and informed that Coal Ministry is taking various steps to increase production from the Under Ground mines. He emphasised that the coal sector is in the growth phase and  collective efforts should be made to reduce coal import by increasing production to meet growing domestic demand.

 

Shri M. Nagaraju, Additional Secretary and Nominated Authority (Coal) stated that the Ministry is taking various measures to meet the coal demand and have auctioned 91 coal mines for commercial use in the last four years. He informed that the financing of one coal mine has already been completed and funding for two coal mine funding projects are at advanced stages of evaluation. Provisions have also been made in the Agreements to protect the interests of the lenders. The sector is becoming robust and responsible and urged REC to consider investing in the coal mining sector and provide financing to the coal mines which will help in faster operationalisation of the same.

Participants of the workshop were informed that the per capita power consumption in the country is 1/3rd of the world average and is going to substantially increase. Most of this will be contributed by coal-based thermal power plants.

Representatives of allocated coal blocks and the MDO’s of the coal mines participated in the workshop lauded the initiatives taken by Ministry of Coal and REC in supporting the coal sector towards Aatmanirbhar Bharat.

 

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Gender equality is quintessence to any equality

 The Vice President, Shri Jagdeep Dhankhar today emphasized that gender equality is quintessence to any equality and there can be no equality in society if there is no gender equality. He also said that this gender equality has to be in substance, not in form; and its manifestation has to be a ground reality.

The Vice President made these remarks while delivering the Platinum Jubilee Address of Miranda House on the topic – “Role of Women in Indian Parliament”. In his speech, Shri Dhankhar highlighted that “the role of women in parliament is enormous, and that their presence by itself will surcharge the atmosphere in legislatures.”

Recognizing that women will be able to bring on the table their experiences worth the life they live through and the challenges they face, Shri Dhankhar asserted that “this would certainly help the governance in evolution of policies that would lead to the resolution of larger issues.”

Describing the passing of Nari Shakti Vandan Adhiniyam as an epochal development in history, VP said that “this is a great development which will ensure that Bharat@2047, when the nation celebrates the centenary of its independence, we’ll be on peak.” Mentioning that he selected 17 women parliamentarians to lead the Upper House when Rajya Sabha discussed the women reservation bill, VP called upon the girl students to never allow themselves to be on the back bench or the back foot. “The world belongs to you; the world has to be shaped by you. Today, Indian women are occupying the position of power in global institutions, making all of us very proud,” he added.

Referring to the election of the highest number of women parliamentarians in Lok Sabha in 2019 General Elections, Shri Dhankhar credited this success to various women empowerment initiatives by the Prime Minister over last years. Noting that the phenomenon of ‘Sarpanch Pati’ is largely gone, he said that now no one dares to occupy a seat meant for women representatives.

The Vice President noted that it is the women, who sacrifice a lot for their families, society, children & elders, and asserted that “giving justice to your gender is automatic justice to my gender.” He further added that, “This is because your gender exemplifies virtuosity, sublimity, & service. God has gifted you faculties that give you an opportunity to help others.”

Quoting Mahatma Gandhi, who said “As long as women in India do not take part in public life, there can be no salvation for the country,” the Vice President said that today the dream of our Bapu is coming true.

Mentioning various initiatives by the government for women empowerment in recent years, Shri Dhankhar noted that “Girls are in combat positions in defense forces. Girls are getting admission to Sainik Schools now. You are the change, you are catalyzing the change.”

Talking about the Swachh Bharat Mission, he said that when the Prime Minister calls for toilets in every home, the focus is women, her dignity & her respect. Similarly, if gas connections are given to needy households, it’s again the women who benefit most as she is the one who manages the kitchen & suffers tears in her eyes due to smoke. He also cited the example of Har Ghar Jal & Mudra schemes which are helping the cause of women empowerment in a big way. “Our Amrit Kaal, on account of the vision, passion, and mission of our Prime Minister has become our Gaurav Kaal,” he added.

Expressing happiness over India becoming the world’s fifth largest economy, VP said that the Indian economy’s rise is principally driven by women. He said that Bharat is on rise and this rise is unstoppable.

The Vice President said that some people are not able to digest India’s growth story, and called upon the students to reply to such elements. Your silence will not be in national interest, he asserted and asked them to be “proud citizens of Bharat and take pride in our Bharatiyata.” Repeating the PM’s call for ‘vocal for local’, VP emphasized the importance of economic nationalism in the country’s development and underscored that items like Diya, candle, kites, toys and curtains should not be imported.

Prof. Yogesh Singh, Vice Chancellor, University of Delhi, Prof. Balram Pani, Dean of Colleges, University of Delhi, Prof. Rajni Abbi, Chairperson, Governing Body, Miranda House & Proctor, University of Delhi, Prof. Bijayalaxmi Nanda, Principal, Miranda House, faculty members, students and other dignitaries were present on the occasion.

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