The government has received good response for coal blocks that it has put under auction in the third tranche with major steel and power companies such as SAIL, JSW, JSPL, Balco, Hindalco and Vedanta putting in 31 bids for 10 coal blocks on offer.
The 10 mines include six coal blocks that were offered but did not attract enough bidders.
The total coal reserves in these blocks are estimated at 858.19 million tonne while extractable coal is about 356.25 million tonne.
The mines are located in Maharashtra, Jharkhand, Chhattisgarh and Odisha.
As per a government statement, the highest number of six bids each have been received for the Majra coal block in Maharastra and Jamkhani coal mine in Odisha, while the Chitarpur mine in Jharkhand received five bids.
The Bhaskarpara coal block in Chhattisgarh, Marki Mangli– I in Maharashtra and Parbatpur Central mine in Jharkhand have received three bids each, the statement added.
The Dsongeri Tal–II mine in Madhya Pradesh and Sondhia mine in Chhattisgarh received two bids each.
It may be recalled that mines like Parbatpur Central, which could not be sold earlier, have received bids from industry majors like JSW Steel and SAIL. Lloyd Steel and Top worth Urja among others have bid for Marki-Mangli-I.
Jamkhani, which was withdrawn from the auction last time, has received the highest number of six bids.
The tender process for the third tranche of auction for 10 coalmines comprising of two schedule II (producing blocks) and eight schedule III (near producing) coalmines started on June 8.
As a part of the auction process, technical bids comprising of online and offline bid documents were opened on Monday in the presence of the bidders, the statement said.
The technically qualified bidders would be shortlisted for participation in the electronic auction to be conducted on the MSTC portal from August 11, 2015.
The government had earlier said it will auction 10 coalmines for steel, cement as well as captive power plants and the process will be completed by the end of next month.
It has so far auctioned 29 coal blocks in two tranches to private companies and garnered over Rs 2 lakh crore, surpassing Comptroller and Auditor General’s loss estimates of Rs 1.86 lakh crore in allotment of mines earlier without auction.
Source: mydigitalfc.com
- metaljunction »
- Metal News
Metal News & Events
METALJUNCTION PUBLICATIONS
Coal Insights (English) Monthly
Coal Insights is a ready reckoner for anyone associated with coal. This publication is aimed at tracking everything related to coal in India.
India Coal Market Watch(English) Monthly
ICMW is a one-stop source for all news, data and research pertaining to coal demand, consumption, stocks, spot- and long-term prices with respect to the Indian Market.
India Steel Market Watch (English) Monthly
ISMW is a brand new high-end steel market report, covering all aspects of the steel industry in India.
Steel Insights(English) Monthly
Steel Insights delves into various facets of the domestic and global steel industry such as market fundamentals, raw material price trends, price forecasts etc.