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Technical Bids Opened for Commercial Coal Block Auction

Coal News - Published on Mon, 05 Oct 2020

Image Source: Coal Block Auction
India’s coal ministry announced that42 firms have submitted 76 technical bids for 23 coal mines out of 38 mines put on auction for commercial mining on September 30th. While 2 or more bids have been received for 19 coal mines, 15 mines did not receive any bid reflecting little appetite for the sector clouded by environmental concerns and low margins. The online bids were decrypted and opened electronically in the presence of the bidders. Subsequently, sealed envelopes containing offline bid documents were also opened in the presence of bidders. The entire process was displayed on the screen for the bidders, The bids will be evaluated by a multi-disciplinary technical evaluation committee and technically qualified bidders would be shortlisted for participation in the electronic auction to be conducted on MSTC portal from 19 October. The auction was launched by the coal ministry on 18 June

List of Bidders (Compiled as per reports in media)
Adani Enterprises7
JMS Mining5
Aurobindo Realty and Infrastructure4
EMIL Mines and Minerals Resources4
Jindal Steel and Power2
Jindal Power2
Adani Power Resources1
Chendipada Collieries1
Stratatech Mineral Resources1
JSW Steel1

While Gare Palma IV/7 coal block in Chhattisgarh, Gotitoria (East) & Gotitoria (West) coal blocks in Madhya Pradesh received 8 bids each, Brahmadiha & Urma Paharitola coal blocks in Jharkhand received 6 bids each

As much as 65% of all the bidders do not run industries that require coal, implying that these firms are primarily interested in commercial sale of the fuel.

Source :

Posted By : Yogender Pancholi on Mon, 05 Oct 2020
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