Coal Pulz Inks escrow agreement for Namchik Nampuk Coal Mine

An escrow agreement has been established for the Namchik Nampuk Coal Mine in Delhi involving the Coal Controller’s Organisation, Ministry of Coal, and Naveen Kumar Singhal, Managing Director of Coal Pulz Pvt. Ltd. Guwahati, signifying the initial move towards the establishment of the largest coal mines in the Northeastern Region within the private sector.

Coal Pulz Pvt Ltd is a partnership formed by two entrepreneurs, Naveen Singhal and Ratan Sharma. The firm announced this as a significant milestone that will drive growth and enhance the development of Arunachal Pradesh and its neighboring regions.

In November 2022, the Namchik Nampuk coal mine in Arunachal Pradesh, possessing almost 15 million tons of coal reserves, was auctioned alongside 28 other coal mines, marking the largest auction of commercial coal mines. The auction experienced intense rivalry, and Coal Pulz Pvt. Ltd. Guwahati secured the bid for the Namchik Nampuk coal mine. Coal Pulz (P) Limited will be the initial private company to investigate commercial mining in the Northeastern Region.

The company stated, “With the advent of opening process of the legal coal mining in private sector, industrialization shall get a boost in North-Eastern region and a lot of development shall happen both in logistic, infrastructure sector and shall increase large scale employment opportunities and business activities. This would also allow the Government to receive huge revenue which could be utilized for overall development of the State”.