BusinessLogrBusinessLogr
  • Home
  • Stocks
  • Finance
  • Business
  • Company
  • Economy
  • Industry
  • Investing
  • Car News
  • Contact Us!
Reading: Eight coal mines to be auctioned in January
Share
Aa
BusinessLogrBusinessLogr
Aa
  • Home
  • Stocks
  • Finance
  • Business
  • Company
  • Economy
  • Industry
  • Investing
  • Car News
  • Contact Us!
Follow US
© 2023 BusinessLogr News Network.
BusinessLogr > Industry > Eight coal mines to be auctioned in January
Industry

Eight coal mines to be auctioned in January

deep
Last updated: 2015/11/19 at 5:48 PM
deep Published November 19, 2015
Share
3 Min Read
SHARE
Jharkhand, Maharashtra, West Bengal and Madhya Pradesh have two coal blocks each in the fourth round. Photo: Bloomberg

Jharkhand, Maharashtra, West Bengal and Madhya Pradesh have two coal blocks each in the fourth round. Photo: Bloomberg

New Delhi: The government on Thursday announced that it is putting up eight coal blocks for auction in January.

“In the fourth round of auctions, eight coal blocks will be auctioned. All these will be for the unregulated, non-power sector,” coal secretary Anil Swarup said.

The sale of tender documents will begin on 31 December, Swarup said. Electronic auctions will begin on 18 January and conclude on 22 January.

“We are hopeful that we will be able to hand over the vesting order to successful bidders by 10 March,” he said.

The non-power sector includes industries like iron and steel, cement and captive power plants. The total capacity of eight mines is 1,143.42 million tonnes. Jharkhand, Maharashtra, West Bengal and Madhya Pradesh have two blocks each in the fourth round.

Swarup, however, refused to give an estimate of the amount the government expects to raise in the auction.

In the third round of auctions in August, the government earned Rs.4,364 crore.

The Supreme Court in 2014 had cancelled allocation of 204 coal mines to companies.

“Coal production has crossed 300 million tonnes three days ago. This year coal production is growing at around 9%, which is arguably the highest ever growth, over and above record production last year (2014-15). We are well on the way to achieving the target this year of 550 million tones,” Swarup said.

The coal secretary praised the rail ministry for its “phenomenal work” of providing more wagons for coal transportation. “Rake availability has gone up, which was a major problem in the past,” he said.

Faster land acquisition and environment and forest clearances are the main reasons for the increase in coal production, he said.

“41 environmental clearances were given by the environment ministry. They are coming thick and fast. It is not that they are bypassing any procedures. What is happening is that all queries that are being raised and details sought are being made available expeditiously and they are able to take a decision. We have expedited the process… we have sat with them and found solutions. That has made the difference,” he added.

[“source -livemint”]

You Might Also Like

FedEx Office Expands Same Day Delivery to 1,800 American Cities

What is Visme and How Do I Use It for Business?

Link Building Lessons from the Real Estate Industry

Shamita Shetty: None of my best friends are from the film industry

Google Web Designer HTML5 Tool is Updated

TAGGED: Eight coal mines to be auctioned in January
deep November 19, 2015
Share this Article
Facebook Twitter Email Print
Share
Previous Article Govt to sell more coal mines in production push: coal secretary
Next Article Solar price may be 10% below coal power rates by 2020: report

Most Viewed Posts

  • 20 Fitness Franchises: Planet Fitness and Beyond
  • Choosing the Right Legal Structure For Your Business
  • find a loan shark on craigslist
  • GoDaddy Launches SmartLine, Gives Your Small Business Its Own Phone Number
  • coffee break loans reviews

Most Viewed Posts

  • 20 Fitness Franchises: Planet Fitness and Beyond
  • Choosing the Right Legal Structure For Your Business
  • find a loan shark on craigslist
  • GoDaddy Launches SmartLine, Gives Your Small Business Its Own Phone Number
  • coffee break loans reviews

Recent Posts

  • Quotes About Betrayal on Life
  • How Can A Sign Advertising Boost Your Brand’s Visibility

© 2023 BusinessLogr News Network.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?