17 firms show interest in CIL restructuring

The government has received applications from 17 firms, including McKinsey, KPMG, Ernst & Young, Deloitte and Crisil, in response to the bids for the appointment of advisors to restructure Coal India Ltd (CIL).

"The Coal Ministry has received 17 applications from companies like McKinsey, KPMG, Ernst & Young, Deloitte and Crisil," a government official said. The Coal Ministry had last month invited bids for the appointment of advisors for restructuring of the country's largest coal producer.

The official said the bids would be opened soon and the ministry is likely to shortlist the companies this month.

The Planning Commission and many high-level panels, including Expert Committee on Road Map for coal sector reforms — also known as T L Shankar Committee — recommended restructuring of CIL keeping in view of rapidly increasing demand of coal and the need for enhancing production as well as to make the coal sector competitive.

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