Coal news and updates

Govt receives 177 bids for e-auction of 23 coal mines

The government today received 177 bids for the 23 coal mines set for e-auctioning in the first phase from February 14. Chhattisgarh’s Gare Palma IV 7 mine, with the geological reserves of 156 million tonne, got the highest number of bidders.

The government had earlier extended the date for submitting the technical bids for the first phase of e-auctioning from January 31 to noon this afternoon.

Details released by the Coal Ministry in the evening said while Gare Palma IV/7 mine received 16 bids followed by 12 each for the Tokisud North, Bicharpur and Gare Palma IV/4. Gare Palma IV/7 mine was previously owned by Raipur Alloys and Steel Ltd.

The details released also said the list was indicative. Physical verification of supporting documents against each bid is still being carried out and the final list of mine-wise bidder would be published on MSTC’s website on February 12. Bidders were also required to submit a sealed envelope containing bank guarantee, power of attorney and the affidavit. These bids will be evaluated by the Technical Evaluation Committee to shortlist bidders for participation in the electronic auction from February 14.

Source: The Tribune