Ministry of Coal signs 16 agreements with bidders of coal mines

The Union Ministry of Coal, Mines and Parliamentary Affairs has reportedly said that in the near future, more than 107 coal blocks will be made available for auction by the Ministry of Coal. The Ministry of Coal has executed agreements with the successful bidders for 16 coal mines under sale of coal of 13th tranche, 14th tranche and second attempt of 12th tranche. During the last four months, Coal India has set a new record by producing around 207 million tonne of coal. The ministry is targeting production of 900 million tonne this financial year and the target of CIL comes to 700 million tonne. The Indian economy is growing at a very fast pace – coal-based power generation has recorded a 16.8 per cent increase this year and the production of domestic coal has gone up by 22 per cent. By the year 2030, India’s coal requirement will be 1.5 billion tonne. Recalling the guidance from the Prime Minister for bringing about reforms and transparency in the coal sector, Shri Joshi, Minister of Coal, Mines and Parliamentary Affairs, has called upon successful bidders to ensure healthy competition. Also read: Individual portal to be created for Mines Ministry under Gati ShaktiCoal production jumps 11.37% in July