Miniratna for Central Coalfields

The Centre had recently conferred Miniratna category-1 status to Ranchi-based public sector undertaking,Central Coalfields limited (CCL).

CCL is the first public sector undertaking (PSU) in Jharkhand to receive this recognition from the Centre.

Chairman and managing director of CCL, RP Ritolia, said with the achievement of Miniratna status, CCL board had been empowered to sanction capital expenditure up to Rs 300 crore on new projects, modernisation projects or purchase of equipment, etc.

The company's board till now had the power to spend only Rs 100 crore on those heads. The Miniratna status would empower CCL to establish joint ventures. The CMD said from the beginning of the Tenth Plan (2002-03), CCL started earning profits from its minus networth of Rs 163 crore in 2001-002.

The company improved its networth to Rs 1,686 crore in 2006-07.