Satyam, Mahalakshmi consortium wins bid for largest coal reserve in NE

Consortium of Satyam and Mahalakshmi Group won the auction of largest coal reserve of Northeast India at Nampuk Namchik in Arunachal Pradesh. The consortium stated in the recent auction of North East's largest coal mine located at Nampuk Namchik in Arunachal Pradesh, two major industrial groups of eastern India, Satyam Group and Mahalakshmi Group won the auction. This has now paved the way for legal coal mining and transportation in Northeast India. Last year the auction of most of the coal mines across the country was completed and coal mining also started. But due to various technical reasons, the auction of the Nampuk Namchik coal mine could not take place. This coal mine was completed again this month and companies from all over the country were bidding. The consortium stated that this time the auction rate of the mine here was kept 55 per cent above the base price. The consortium of these two groups won by bidding 65 per cent. “With the resumption of this coal mining worth hundreds of crores every year, the new development will take place in the Northeast. Not only will the industry get a boost in the Northeast, but the way for legal coal mining will open and the government will get huge revenue”. Illegal coal mining and its transportation has been a major problem in the Northeast. The consortium stated, “But with the commencement of mining from the biggest coal mine of the Northeast, many avenues will open up. This will not only improve the economic condition of the North East, but also increase employment opportunities on a large scale and accelerate business activities”.Also ReadCabinet approves NHPC's investment in India's largest hydro projectGreenfield project in Ballia to connect with the Bihar border in UP