The financial round of bidding for sale of coal blocks for commercial mining envisaged under the third tranche of auctions will commence from 8 Feb’22.
The event was rescheduled after a long delay in the original timeline, which was earlier slated to take place from 7 Jan’22.
In the latest round, 10 coal blocks would be in contention for sale, after qualifying for the financial bidding by fetching multiple bids in the technical round.
It is important to note that the coal ministry had offered a total of 88 coal blocks in the third tranche of the auctions, of which interest was elicited for 20 coal blocks in the technical round. Amongst these, 10 had received single bids and 10 had received more than one bid.
However, the 10 blocks that fetched single bids have failed to make the final cut this time, in accordance with the methodology defined for the auctions.
Auction schedule
A total of 40 technically qualified bidders would be competing for these coal blocks. Earlier, 43 bids were received in the technical round, but after screening three bids were rejected.
However, the financial round in the auction this time will be a short-term affair that will last for only three days.
On the first day, sales will be conducted for five coal blocks, including Bankhui which has the highest coal reserves among the lot offered.
The final day of auctions is reserved for sale of Utkal-C and Namchik Namphuk blocks, which had received maximum number of bids in the technical round.
Geological reserve is in mnt
Note: Brinda and Sasai are different blocks, but considered as one for the auction.
Leave a Reply