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Coal India bid to develop old mines delayed
Sept 5: Coal India is considering switching to a global open-tender mode for developing its abandoned mines, a development that could inordinately delay the project.
CIL was hoping to float these joint ventures by the middle of 2010.
The world's largest coal miner is seeking to develop some 18 old mines with a total reserve of 1.6 billion tons of high-quality coking and thermal coal under joint venture arrangements with global underground mining companies. It had sought preliminary expressions of interest and had short-listed 10 companies.
But since CIL drew no response from them in the first round of tendering, it was forced to relax some conditions in the second phase, which is now under way. However, if this round also fails, the company may go for open global tendering, a process under which anybody can bid and there will not be any preliminary short-listing.
Source: The Economic Times
