Centre receives 38 offline bids for commercial mining of coal

New Delhi [India], June 28 (ANI): A total of 38 offline bids were received for commercial mining of coals under three tranches of commercial coal mine auctions, according to the Ministry of Coal.

Under the fifth tranche of auctions, a total of 28 offline bids were received against 15 coal mines, where two or more bids have been received for eight such coal mines, the ministry said in a statement on Monday.

Under the second attempt of the third tranche, a total of nine coal mines were put up for auctions and six bids have been received against six coal mines.

Further, under the second attempt of the fourth tranche, a total of four coal mines were put up for auctions and four bids have been received against three such coal mines, the statement added.

The auctions for commercial coal mining were launched by the ministry on March 30, 2022. The last date for submission of online technical bids for all the coal mines was 1200 hours on June 27, 2022, and offline submission was 1600 hours on June 27, 2022.

The online bids received as part of the auction process will be opened from 10 AM onwards on June 28 at Tagore Chambers, Scope Complex, New Delhi, in the presence of interested prospective bidders, the statement said.

In June 2020, more than 45 years after the nationalisation of coal mines in the country, the Centre opened the coal sector for commercial mining by private players.

Despite having the fourth largest coal reserves in the world, India is the second-largest importer of the commodity.

The country meets a fifth of its annual coal requirement through imports, even after the recent increase in domestic coal production, and the Centre intends to reduce dependence on imported coal in order to build an 'Atmanirbhar Bharat' or self-reliant India. (ANI)

Source: BUSINESS