Power giants secure coal mines in 7th round

04 Aug 2023 CW Team

During the seventh round of coal auctions, it was announced that one mine each was secured by NTPC, Hindalco Industries, and Bajrang Power and Ispat. According to a statement from the Ministry of Coal, NTPC acquired the North Dhadu (Eastern Part) coal block in Jharkhand, which has coal reserves of 439 Million Tonnes (MT).

In Odisha, Hindalco Industries was successful in obtaining the Meenakshi West block, which is rich in coal reserves, amounting to 950 MT. Meanwhile, Bajrang Power and Ispat emerged victorious in winning the Pathora East Coal Block in Madhya Pradesh, boasting coal reserves of 110.40 MT.

The ministry stated that once these coal mines are operational, they are expected to generate an annual revenue of Rs 4.50 billion, calculated at the Peak Rate Capacity (PRC) of the coal mines, excluding partially explored ones. Additionally, the mines are projected to attract capital investment of Rs 6 billion and create employment opportunities for 5,408 people.

The ministry also mentioned that the operationalisation of these mines would lead to an annual revenue of Rs 4.50 billion, based on the Peak Rate Capacity (PRC) of these coal mines, excluding partially explored mines. Moreover, it is expected that these mines will attract a capital investment of Rs 6 billion and generate employment for 5,408 people.

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