6 New coal mines allocated, will generate Rs 15,000 Cr revenue: Ministry

New Delhi: The Ministry of Coal had initiated the auction process for 27 coal mines under tranches 8, 9 and 10 for the non-regulated sector and the allotment process for 15 coal mines under tranches 6, 7, 8 and 9 for various specified end-uses like power, sale of coal and iron & steel sectors.

In the allotment process, applications were received in cases of 6 out of 15 coal mines. After evaluation, six coal mines were declared to be under consideration for allotment.

On the basis of the evaluation of applications received in the allotment process, six mines namely Durgapur II Taraimar/Durgapur II Sariya, Mandakini, Utkal C, Sugia Closed Mine and Tokisud North are under consideration for the allotment. Out of these, Mandakini coal has the highest extractable reserves amounting to 287.89 megatons.

These mines will add more than 5 million tons of coal per annum and boost coal production in the country and reduce the dependence of industries on imported coal.

It will also generate about Rs 15,000 crore revenue for State Governments where the mines are located besides royalties and other applicable taxes.

In the auction process, the successful bidders for all the mines except Gare Palma IV-1 have been recommended by the Central Government. Birla Corporation Ltd successfully bid for two mines in Madhya Pradesh – Bikram and Brahampuri, while Vedanta Ltd emerged as the highest bidder for Jamkhani, Odisha. One mine in Chhatisgarh was allocated to Prakash Industries Ltd and one mine in West Bengal was allocated to Powerplus Traders Pvt Ltd.

Earlier in December, The Ministry of Coal said it had approved the allocation of five Coal mines after a ‘long gap of 4 years.’


Follow Indus Dictum on Facebook and Twitter for the latest updates.


Subscribe to Indus Dictum to receive a briefing about the latest news & feature articles. No spam, we promise.

Processing…
Success! You're on the list.

The ID Staff

Daily stories by the Indus Dictum Staff

Have some feedback for the author? Click here to comment.