By Our Correspondent
BHUBANESWAR: Gare Palma Sector I (East) Coal Block in Chhattisgarh, which was Geological Reserves of 965.00 (MT) and PRC 15.00 (MTPA) went to Jindal Power Limited.
Auction for the block started at a 4.00% floor price with Jindal Power Limited bidding highest for it at 9.00%.
The coal mine is a fully explored coal mine. The total geological reserves for the coal mine is ~ 965 Million Tonnes.PRC for the coal mine is 15 MTPA.
Ministry of Coal had launched the auctions of coal mines for commercial mining under 6th round and second attempt of 5th round on November 03, 2022. Forward auctions for these mines have been started on 27.02.2023 and on the 5th day of the e-auction today, one coal mine was put up for auction which was CMSP coal mine.
This coal mine upon operationalization will generate Annual Revenue of ~Rs. 1,968 crores calculated at PRC of the coal mine. The mine will attract capital investment of ~Rs. 2,250 crores and will provide employment to ~20,280 people.
Jindal Power Limited (JPL), is a leading power company in India across the energy spectrum: thermal, hydro and renewable. JPL has been contributing significantly to the growing needs of power in the country.
