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Goa: Cabinet grants nod for coal block consultant

Goa: Cabinet grants nod for coal block consultantPanaji: Chief ministerPramod Sawanton Wednesday said that the state cabinet has granted approval for the appointment of a’XYKno Capital Servicesas the consultant for exploiting the Dongri Tal IIcoalblock allocated toGoa Industrial Development Corporation(GIDC).

The cabinet granted approval to appoint the PPP cell, department of finance to hand hold, and/or assist Goa Industrial Development Corporation for selecting the mine developer and operator (MDO) for development, operation and mining of the coal block in Singrauli, Madhya Pradesh.

The cabinet granted approval for appointment of a’XYKno as transaction advisor for the entire bid management process of the coal block for selection of MDO at a cost of Rs 10 lakh, inclusive of all taxes and no success fee is allowed to be charged.

Towards payment schedule, GIDC may release 25 per cent of the fee upon floating of request for proposal (RFP), 25 per cent upon completion of bid process and balance 50 per cent will be payable upon signing of agreement with MDO, the note stated.

The cabinet note stated that GIDC may issue award letter to a’XYKno along with terms of reference by taking assistance from the PPP division.

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