(a) whether the International Coal Ventures Pvt.
Ltd (ICVL) has not finalized a single deal for acquisition
of coal mines abroad during the last three years and the
current year, so far;
(b) if so, the details thereof and the reasons therefor;
(c) the details of expenditure incurred on ICVL by its
constituents during the above period; and
(d) the remedial measures taken by the Government in this regard?
MINISTER OF STATE IN THE MINISTRY OF COAL (SHRI PRATIK PRAKASHBAPU PATIL)
(a) to (d): International Coal Ventures Private Limited (ICVL) is under
the administrative control of Ministry of Steel. As per the information
provided by ICVL, it has not finalized any deal till date. However, ICVL has
participated in a number of global competitive bidding and non bidding processes
for acquisition or equity participation in overseas coal assets/mining companies.
The constituent companies of ICVL have contributed Rs.21.40 crore till date
towards the share capital of the company and as such they have not spent any
funds directly on ICVL. Government has been encouraging Public Sector
Undertaking (PSU) companies for acquisition of the assets abroad from energy
security point of view.