Coal news and updates

Coal-bearing states to receive Rs 7 lakh cr via e-auction

January 8: The coal-bearing states will receive over Rs 7 lakh crore from e-auction of coal blocks in the future, for socio-economic development and accelerating economic growth, an official statement from the ministry said on January 8.

“The allocation and auction process will be held in a transparent manner exclusively by e-bidding. This will protect the interests of Coal India Limited’s employees and increase domestic production towards 24x7 affordable power for all, and long-term energy security of India,” it said.

The statement added that an action plan towards doubling Coal India’s production to 100 crore tons in 5 years is in place, and the transformation process has been initiated.