Post success of Schedule II & III, the ministry has decided to start third round of Coal block auction in the mid of April, 2015. Total 16 Coal blocks will be auctioned in third lot.
After successfully auctioning 33 Coal blocks in two rounds and allotment of 38 blocks to central & state entities, now the government is planning to begin the third round of auction with 16 Coal blocks from the mid of April’15.
Blocks from states including Chhattisgarh, Odisha, Jharkhand, Maharashtra and West Bengal will be offered in the third tranche. The ministry is considering easier qualification norms for the participating companies this time.
“The third round of Coal block auction will commence with 16 blocks from the third week of April, 11 are reserved for power sector and the rest would be for non-power. Most of the blocks have all required clearances. “Said Coal Secretary Anil Swarup.
The Centre will not receive any part of the revenue generated from block auction of schedules II & III. All profit earned in the bidding will go to the state governments; Centre will not keep any profits.
The state governments earned about INR 4.7 billion revenue in two rounds of auction and anticipated to receive about INR 3350 trillion in coming 30 years through block auctions to private players as well as allotment to central & state entities.
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