46 companies bid for 20 coal mines

As many as 46 companies have submitted their bids for 20 coal mines. More than 15 new companies, including a Coal India subsidiary, have participated for the first time under commercial coal mine auction, an official press release said.

The Ministry of Coal yesterday opened the bids for the 11th round of commercial coal mines’ auction, the release said. “This round received unprecedented responses from the bidders. Bids have been received for 20 coal mines out of offered 27 coal mines.”

The bidders included big companies such as Jindal Power Limited, Bharat Aluminium Company Limited, Adani Natural Resources, Western Coalfields Limited, JSW Steel Ltd, and Lloyds Metal & Energy.

Sixty-five bids were received against 15 coal mines offered in the 11th round. On the second attempt of the 10th round, seven coal mines were put up for auction. Five bids were received against five coal mines with each mine receiving one bid each.

While 70 bids were filed online, 72 bids were received in the physical form.

The bids will be evaluated by a multi-disciplinary Technical Evaluation Committee, and technically qualified bidders will be shortlisted for participation in the electronic auction, to be conducted on the MSTC portal.

MSTC is a listed Central public sector enterprise under the administrative control of the Ministry of Steel. It is primarily engaged in providing e-commerce-related services across diversified sectors.

The participation of new companies in the commercial coal mine auction shows the interest of the companies towards the policy. The coal sector will continue to fuel the economy to become the third-largest economy in the world, the release said.