Bids for commercial auction of coal blocks can be submitted till January 13

11 Jan 2023 CW Team

The bids for the commercial auction of coal blocks can be submitted by Friday, January 13, the Union Ministry of Coal said. The ministry launched the sixth tranche and the second attempt of the previous commercial coal mines auction for 141 coal mines on November 3, 2022.

"In accordance with the timelines, bidders can submit their bids online on the electronic platform by 12:00 hours up to January 13, 2023 and physically by 16:00 hours on the same day. The bids shall be opened on Monday, January 16, 2023 at 10:00 hours in the presence of representatives of the bidders," the ministry said in a release.

The coal mines in the current tranche were chosen with the investment community's various demands in mind; some of the coal mines have been resized based on industry comments to improve their attractiveness.

The Ministry of Coal has paved the way for more coal to be released into the market by increasing the utilisation of mining capacities of captive coal blocks, which has resulted in an increase in coal production by captive and other companies of 31.38 percent to 81.70 million tonnes so far in 2022-23, compared to 62.19 million tonnes produced during the same period last year.

With an objective to enhance the coal production capacity, it has put 141 new coal blocks for commercial auction and has been engaging regularly with various coal companies in the country and monitoring their production.

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