By Our Correspondent
NEW DELHI/BHUBANESWAR: Amid presence of Industry Captains like Naveen Jindal of Jindal Steel and Power Limited and several others, Union Coal ,Mines and Parliamentary Affairs Minister, Pralhad Joshi on Thursday launched 12th tranche of CM(SP) auction and the 2nd tranche of MMDR auction of commercial coal blocks.
“Launched the next tranche of auction for commercial mining of coal. Was joined by CEO of@NITIAayog, Shri @amitabhk87 ji, officials of the @CoalMinistry and industry representatives. This latest one is the 12th tranche of CM(SP) auction and the 2nd tranche of MMDR auction,” Union Coal, Mines and Parliamentary Affairs Minister Pralhad Joshi tweeted @JoshiPralhad.
Of the total 35 coal mines successfully auctioned in the last 10 tranches of auction, only 14 blocks could begin operations, sources said. The recent auction of coal mines for commercial mining witnessed “fierce competition” and the 19 blocks that went under the hammer can generate total revenues of around ₹7,000 crore per annum and create more than 69,000 jobs once they are operationalized.
Out of 38 mines put on auction, 19 mines were successfully auctioned.42 companies participated in the auction, out of which 40 were private players.In June, Prime Minister Narendra Modi launched the auction process for 41 coal blocks for commercial mining. Some of the corporate biggies that have bagged blocks include Adani Enterprises, Vedanta, Hindalco Industries and Jindal Power.
