Vedanta emerges as successful bidder for coal block in Odisha

Vedanta has emerged as a successful bidder for a coal block in Odisha, which was put for rebid in the second attempt of the auction of blocks for commercial mining. The Ministry of Coal told the media that the total number of mines successfully auctioned in the first tranche of the auction for commercial mining is 20 out of 38 coal mines offered, with the successful auction of Kurali (A) north coal mine in Odisha. Out of 39 coal mines, 19 were successfully auctioned in the first auction attempt under the 11th tranche of auction under the CM Act 2015 and under the first tranche of auction under the MMDR Act 1957. Four coal mines out of the remaining mines which had fetched a single bid in the first attempt were put up for re-auction in a second attempt by the Ministry of Coal with the same terms and conditions but with the best initial offer received within the first annulled attempt of the auction as the floor price for the second attempt. For commercial mining, the coal ministry had launched the auction process of 38 coal mines in the first tranche of the auction to sell coal. Kurali (A) North is the largest mine in terms of PRC of all the mines successfully auctioned in the first tranche with a peak rated capacity of eight million tonnes per annum (MTPA). The mine is expected to provide employment to over 10,000 people and also generate annual revenue of Rs 763 crore. Image Source Also read: Vedanta to establish aluminium park in Odisha at Rs 10k cr Also read: Vedanta unit plans 10-year extension for Barmer field in Rajasthan