E-bids for coal mines to be conducted Nov 2-9
COAL & MINING

E-bids for coal mines to be conducted Nov 2-9

In the second and final round of the auction process of coal mines this week, 19 coal blocks will be put up for e-auction. The auction starts November 2 and ends November 9. Technically qualified bidders will be announced two hours before auctioning begins on Monday the 2nd.

An official spokesperson said there will be hardly any manual intervention after initial offers are uploaded. “Two officers from the Central Mine Planning & Design Institute and the Ministry of Coal will open the initial price offers and upload on the bidding platform of MSTC E-Commerce,” the official said. “The software will itself declare the highest and lowest offer. The bidding will commence from the highest initial price offer.”

Process: The e-auction will be conducted on the e-commerce portal of government-owned MSTC. The bidding time for every mine is two hours, the bid submission window eight minutes. Bidding will close when there is no bid for eight minutes. As long as the bids keep coming, the process can continue beyond two hours, a ministry official said. The MSTC system will declare the highest bidder or the preferred bidder. The nominated authority of the commercial coal auction will evaluate all bids, submit to the Ministry of Coal, which will declare the successful bidder.

Eligibility: Coal mine auctions began in June after the ministry opened the process for mining and sale. In an amendment, international companies, non-mining companies, and large miners were made eligible.

Adani Enterprises has submitted bids through its various companies for 12 mines, the highest among all contenders. Apart from Adani, Hindalco, Jindal Power, JSW Steel, Vedanta, Welspun Steel, non-coal companies, medium-sized enterprises, and state government mining companies are participating in the auction. However, no international player has placed an offer.

The technical round under which the companies submitted their eligibility and initial price offer closed last month. Of the 38 coal blocks offered by the Ministry of Coal, it received interest from 46 companies for 19 blocks.

Source: PIB

In the second and final round of the auction process of coal mines this week, 19 coal blocks will be put up for e-auction. The auction starts November 2 and ends November 9. Technically qualified bidders will be announced two hours before auctioning begins on Monday the 2nd. An official spokesperson said there will be hardly any manual intervention after initial offers are uploaded. “Two officers from the Central Mine Planning & Design Institute and the Ministry of Coal will open the initial price offers and upload on the bidding platform of MSTC E-Commerce,” the official said. “The software will itself declare the highest and lowest offer. The bidding will commence from the highest initial price offer.” Process: The e-auction will be conducted on the e-commerce portal of government-owned MSTC. The bidding time for every mine is two hours, the bid submission window eight minutes. Bidding will close when there is no bid for eight minutes. As long as the bids keep coming, the process can continue beyond two hours, a ministry official said. The MSTC system will declare the highest bidder or the preferred bidder. The nominated authority of the commercial coal auction will evaluate all bids, submit to the Ministry of Coal, which will declare the successful bidder. Eligibility: Coal mine auctions began in June after the ministry opened the process for mining and sale. In an amendment, international companies, non-mining companies, and large miners were made eligible. Adani Enterprises has submitted bids through its various companies for 12 mines, the highest among all contenders. Apart from Adani, Hindalco, Jindal Power, JSW Steel, Vedanta, Welspun Steel, non-coal companies, medium-sized enterprises, and state government mining companies are participating in the auction. However, no international player has placed an offer. The technical round under which the companies submitted their eligibility and initial price offer closed last month. Of the 38 coal blocks offered by the Ministry of Coal, it received interest from 46 companies for 19 blocks.Source: PIB

Next Story
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?