HomeBusinessCentre receives 38 offline bids for industrial mining of coal

Centre receives 38 offline bids for industrial mining of coal

A complete of 38 offline bids had been obtained for industrial mining of coals below three tranches of economic coal mine auctions, in accordance with the Ministry of Coal.
Below the fifth tranche of auctions, a complete of 28 offline bids had been obtained in opposition to 15 coal mines, the place two or extra bids have been obtained for eight such coal mines, the ministry mentioned in a press release on Monday.
Below the second try of the third tranche, a complete of 9 coal mines had been put up for auctions and 6 bids have been obtained in opposition to six coal mines.
Additional, below the second try of the fourth tranche, a complete of 4 coal mines had been put up for auctions and 4 bids have been obtained in opposition to three such coal mines, the assertion added.

The auctions for industrial coal mining had been launched by the ministry on March 30, 2022. The final date for submission of on-line technical bids for all of the coal mines was 1200 hours on June 27, 2022, and offline submission was 1600 hours on June 27, 2022.
The web bids obtained as a part of the public sale course of might be opened from 10 AM onwards on June 28 at Tagore Chambers, Scope Advanced, New Delhi, within the presence of potential bidders, the assertion mentioned.
In June 2020, greater than 45 years after the nationalisation of coal mines within the nation, the Centre opened the coal sector for industrial mining by non-public gamers.
Regardless of having the fourth largest coal reserves on this planet, India is the second-largest importer of the commodity.
The nation meets a fifth of its annual coal requirement by way of imports, even after the latest improve in home coal manufacturing, and the Centre intends to scale back dependence on imported coal as a way to construct an ‘Atmanirbhar Bharat’ or self-reliant India.

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