Coal News We love to talk!

NOV 30 2015

Coal auction: Government to meet potential bidders this week

  • Economic Times, ET Bureau / Hyderabad
  • Created: Mon 30th NOV 2015

Taking forward the process of fourth round of coal mines auction, the government has organised a pre-bid conference this week in which the queries of the prospective bidders would be clarified.

The government had earlier this month kick-started the process for the fourth tranche of e-auctioning of eight coal blocks.

"...the pre-bid conference for fourth tranche of e-auction of coal mines is scheduled to be held on December 4, 2015," a Coal Ministry memorandum said.

The Coal Ministry further requested other ministries, including steel, to nominate their representatives to participate in the conference.

The next round of mines auction is slated to be held between January 18-22 next year.

The last three rounds of auction have generated proceeds of more than Rs 3 lakh crore, which would be realised over 30 years by states where the mines are located.

The eight mines to be auctioned in the fourth round would be for non-regulated sectors like iron and steel, cement and captive power plants, the government had earlier said.

The coal blocks to be put under the hammer include Brahmapuri and Suliyari in Madhya Pradesh, Bundu and Gondulpura in Jharkhand, Gondkhari and Khappa & Extn in Maharashtra and Jaganathpur A and Jaganathpur B in West Bengal. The Supreme Court in September last year had cancelled allocation of 204 coal mines to companies without auction.

Tags

Madhya Pradesh Maharashtra Jharkhand West Bengal Captive Coal Coal Mines Power CAPTIVE

Related News

  • Adani Enterprises in talks with buyers to sell coal from Australian mines  Read more
  • CEA to meet power firms over Coal India penalty clause  Read more
  • Power Grid Corp toinvest Rs 477 crore in two transmission projects  Read more
  • Nava Bharat Ventures sell stake in arms for USD 10.15 mn  Read more
  • Govt to set up panel for valuation of 42 running blocks  Read more
  • Coal India to target 20% rise in despatches this year  Read more
  • Outlook for India's power sector negative in FY18: India Ratings  Read more
  • 7 firms evince interest in Vizag's power project  Read more
  • Railway Coal Levy Worries Power Cos  Read more
  • Some states not cooperating with centre for development: Goyal  Read more