Over 2 Lakh crore to government from the coal auction of 29 mines



News

  • From the first day auction of Marki Mangli block in Maharashtra and Bhaskarpara coal block in Chattisgarh government earned over Rs.2,500 crores
  • Jaypee Cement bids Majra mine in Maharashtra for Rs.1,835 crore, which is previously allotted to Gondwana Ispat . ACC Cement, JK Lakshmi Cement, Crest Steel and Power, Emami Cement, and Grace Industries are other firms who are in competition for this block
  • At the end of the third tranche of coal auction, from the sale of three coal blocks, government’s revenue is at Rs.4,364 crore.
  • The first two tranches of the coal auction of 29 mines generated over Rs.2 lakh crores where as in third round only 3 mines are bided as against 10 mines.
  • Out of 10 mines , four blocks were withdrawn due to lack of bids received, the Jamkhani coal mine in Odisha and Chitarpur coal mine in Jharkhand are postponed because of ongoing litigation, Parbatpur Central (Jharkhand) mine is withdrawn on representation that it contains gas.

Source : ET


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