After successfully carrying out first-ever auctions for commercial sale of coal blocks, the Coal ministry has again invited bids for the remaining blocks that had received single bid in the technical round.
It is pertinent to note that 23 out of 38 blocks had received interest from prospective bidders in the latest auction, but since the number of technically qualified bids for 4 blocks was less than 2, tender process for these was annulled.
Nevertheless, pursuant to the modification being introduced in the tender document, the ministry has initiated a second attempt for auction of these blocks under the same rules and conditions, in which highest price offer in the previous attempt of auction would become floor price for this round.
Having an annual peak rated capacity of 52 mn t, these blocks belong to Jharkhand and Odisha state for which Andhra Pradesh Mineral Development Corporation (APMDC), Vedanta and Hindalco were in fray.
Reserve in mn t | PRC-Peak Rated Capacity in mn t per annum
The nominated authority carrying out the sale has notified that the auction would commence with a pre-bid meeting to be held on 16 Dec ’20. Thereafter, bids will be invited till 12 Jan ’21, which will be followed by conduction of financial round of bidding from 27 Jan ’21. Finally, the winners would be recommended for approval on 3 Feb ’21.
Detailed schedule for the auction process are listed below:
*Last date for registration at the MSTC website: 7 Jan ’21
* Last date for sale of Tender document: 9 Jan ’21
* Bid due date: 12 Jan ’21
* Opening of the Technical bids: 13 Jan ’21
* Examination of Technical bids: 14-25 Jan ’21
* Conduct of electronic auction: 27-29 Jan ’21
*Recommendation to government for selection of successful bidder: 3 Feb ’21
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