APMDC Suliyari coal upcoming auction 1,00,000 MT for MP MSME on 1st Oct 2024 / 1st Nov 2024 & 2nd Dec 2024 @ SBP INR 2516/- per MT
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New UserCoal ministry plans easier qualification norms for next round of coal auctions
02 Apr 2015
The coal ministry is considering easing qualification norms for companies in the next round of coal auction in which about 20 coal mines with about three billion tonnes of reserves will be offered. The ministry is likely to consider easing investment requirement norm for the mines that will be offered to private developers this month, a senior official said.
During the first tranche of auction, the ministry offered producing coal blocks to steel, cement and power companies for plants where 80% of the investment was made.
End-use projects where 60% investment has been put in were eligible to participate in the second tranche of auction of soon-to-be operational coal blocks. "These are mines which have ready mine plans but most do not have regulatory clearances.
The companies might not find them very lucrative unless we lower the investment requirement," said the official, who did not wish to be named.
The government will offer about 20 mines in states including Chhattisgarh, Odisha, Jharkhand, Maharashtra and West Bengal. Half of the mines are expected to be reserved for the power sector. The blocks include Icchapur with 335 million tonne (mt) of reserves, North Karapura with 212 mt, Bijahan with 130 mt, Tubed with 189 mt and Gare Palma IV/6 with 158 mt.
Coal secretary Anil Swarup on Wednesday said the Centre has transferredRs 466 crore to host states of coal blocks received as upfront payment from bidders through auctions.
"The first tranche of Rs 466 crore goes to the states by way of upfront payment received from bidders in coal block auctions," he said.
Swarup tweeted, "No revenue gain for the Centre. The entire amount out of coal block auctions will go to the States. Cooperative federalism at its best."
States are likely to earn Rs 3.35 lakh crore in next 30 years from auction of coal blocks to private companies and allotment to state-run companies. The government auctioned 33 blocks in two tranches to private companies garnering over Rs 2 lakh crore. It allotted 38 mines to central and state public sector companies including NTPC, Damodar Valley Corp and Steel Authority of India.