Joshi expects Rs.3,565.5cr investment in coal mines from 16 pacts with bidders
More than 107 coal blocks will be made available for auction by the Ministry of Coal in the near future, following the execution of 16 agreements with bidders under sale of coal of 13th tranche, 14th tranche and second attempt of 12th tranche.
Announcing the upcoming blocks, Coal Minister Pralhad Joshi said the three tranches’ commercial auction is estimated at generate annual revenue of Rs.4,286.53 crore considering production at aggregated Peak Rate Capacity level of 23.77 million ton per annum.
An investment of Rs.3,565.50 crore will be incurred to operationalise these mines.
The country’s coal requirement will be of 1.5 billion ton by 2030, he added on 17 Aug 2022.
The Ministry is targeting production of 900 million ton this financial year. A 700-million-ton target has been set for Coal India Ltd which has produced 207 million tons in the last four months.
Joshi pointed out that Indian economy is growing at a very fast pace and coal-based power generation has recorded 16.8 % increase this year while domestic coal production was up by 22% on the year.
The 16 mines, for which coal mine and block production and development agreements executed, are Beharaband North Extn, Gondbahera Ujheni East, Tokisud Block II, Bankhui, Bijahan, Brinda & Sasai, Koilajan, Garampani, Majra, Namchik Namphuk, Utkal C, Chinora, Utkal B1 & Utkal B2 and Gare Palma IV/6.
The successful bidders include Auro Coal Private Limited, MP Natural Resources Private Limited, Twenty First Century Mining Private Limited, Yazdani Steel and Power Limited, Mahanadi Mines and Minerals Private Limited, Dalmia Cement (Bharat) Limited, Assam Mineral Development Corporation Limited, BS Ispat Limited, Platinum Alloys Private Limited and Jindal Steel and Power Limited. fiinews.com
