Top Firms Bid for Two Underground Coal Blocks
Godawari Power and Ispat Ltd, Dilip Buildcon, and Shyam Metalics and Energy Ltd are among eight companies that have submitted bids for two out of the six underground coal blocks offered for sale under the 12th round of commercial coal mine auctions.
According to the Ministry of Coal, a total of 14 bids were received from these eight companies for the two blocks. The online bids were decrypted and opened electronically in the presence of the respective bidders. Following this, sealed envelopes containing offline bid documents were also opened with the bidders in attendance.
The bids are now set to be evaluated by a multi-disciplinary technical committee. Only technically qualified bidders will proceed to the electronic auction stage, which will be hosted on the MSTC portal.
The commercial auction of coal mines was first launched by Prime Minister Narendra Modi in 2020, with the aim of opening up India’s coal sector to private players and reducing import dependence.