Nominated authority carrying out the auctions under commercial coal mining has again rescheduled the time-line, after the process was subjected to temporary delay on part of the submission of additional information from the bidders.
Notably, this is the second time schedule has been revised; however, the Coal ministry has emphasized to complete the process in the same period as stipulated in the previous revision.
As per the revised schedule, after examination of technical bids, electronic auction involving financial bids would commence from 2 Nov ’20 till 9 Nov ’20, which was earlier slated to begin from 19 Oct ’20.
Important dates related to auction process are listed below:
*Start date for examination of technical bids: 01 Oct ’20
*End date for examination of technical bids: 31 Oct ’20
*Conduct of electronic auction: 2-9 Nov ’20
*Announcement of successful bidder by nominated authority: 11 Nov ’20
At present, the auction has reached the technical round of bidding wherein 23 out the 38 coal blocks received bids from the participants, which are under inspection for confirming the final list of blocks that would go onto the financial bidding round.
Tentative date regarding issuance of vesting order has not been provided in the updated schedule, which would take nearly 50 days post approval of successful bidder by the government as per the tender document.
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