 "Copper producers face uneven playing field")
A parliamentary panel has asked state-owned Hindustan Copper Ltd (HCL) to look at measures to remove hindrances for timely execution of expansion projects and optimally utilise the plan outlay.
"The committee notes that during 2019-20, out of the Rs 402 crore allocated for its expansion projects, HCL could utilise Rs 103.43 crore up to December 2019... The committee hopes that HCL would take timely steps to remove all the bottlenecks for timely execution of expansion projects and would optimally utilise their plan outlay of Rs 600 crore during the year 2020-21," the standing committee on coal and steel has said in its latest report.
It has been stated that though expansion projects in revised estimate (RE) stage, the target has been retained at Rs 402 crore, however, the same amount of expenditure may not be achieved due to delay in awarding of some of the tenders related to mine expansion, it said.
The development of second phase of Khetri mine could not be commenced due to non-finalisation of tender owing to high price quoted by the single bidder, the panel said.
Further, the tender related to Chapri-Siddheswar mine was not finalised due to high price quoted by L1 bidder as compared to the departmental estimate.
The committee feel that all these projects are instrumental for exploration and exploitation of copper in the country and hence, the mines ministry should give serious consideration to remove these procedural delays for timely execution of projects.
The major activities of HCL include mining or beneficiation, smelting, refining and casting of refined copper metal into dowstream production.
