Kolkata-based Eastern Minerals & Trading Agency (EMTA) has entered a memorandum of understanding (MoU) with Jharkhand State Electricity Board (JSEB) to operate captive coal mines in Jharkhand.
JSEB will hold 26 per cent stake in the joint venture company to be formed for the purpose. In view of proposed expansion of thermal power plants In Jharkhand and inferior quality of coal and high prices changed by existing coal suppliers, JSEB has decided to go in for owned mines to source coal for its power plants.
The proposed captive coal mines will cater to the need of the JSEB