The ministry has issued a new timeline for sale of remaining coal blocks left after the conclusion of first-ever commercial coal mining auctions. Electronic round of auction for latest sale which was earlier slated to commence towards the end of January will now take place in the second week of February.
It is pertinent to note that auction for four blocks namely- Saregraha, Kuraloi, Chendipada and Chendipada-II, was terminated as they failed to meet the criteria of receiving two or bids in the technical round.
However, carrying out modification in the tender document, the ministry has initiated second attempt for sale of these blocks, for which due date for bid submission has been set 27 Jan ’21, as per the latest schedule.
Under the new provision, highest price in the previous attempt of auction would become floor price for current round and the auction would continue even if a block receives single bid but the decision on allocation would be subjected to approval from Empowered Committee of Secretaries.
Revised time-line of auction process:
*Last date of registration: 22 Jan ’21
*Last date of sale of tender document: 25 Jan ’21
*Bid Due date: 27 Jan ’21
*Opening of Technical bids: 28 Jan ’21
*Examination of Technical bids: 29 Jan-9 Feb ’21
*Conduct of electronic auction: 10-12 Feb ’21
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