Coal news and updates

Tender may be annulled if bidders less than 3 for block

In case the number of bidders in for a mine in the proposed coal auction next month is fewer than three, then the block could go to a designated custody or the tender process may get annulled, government said today.

The government will next month auction 23 coal mines under schedule II blocks (blocks which are into production).

Responding to a query on what would happen if the number of bidders was less than three for a mine, the Coal Ministry said, "The coal mine may be subject to re-auction or being granted to the custody of a designated custodian and the tender process may be annulled."

The ministry also said the starting and closing time of auction will be intimated later and "it is possible that the auction may run over multiple days".

The replies by the ministry are in response to various questions raised by the bidders with regard to tender document for auction of schedule II mines.

The ministry further said that a bidder having multiple end-use plants can submit separate bids.

It also said that two or more coal mines for different specified end-uses may be auctioned simultaneously.

"Demo e-auction shall be conducted and schedule for the same shall be provided," the ministry said.

Source: PTI