In technical round of Paradip Port plot auction for allotment of 10 manual and 10 mechanical iron ore plots through online bidding platform conducted today, aggressive participation from iron ore export companies were seen.
Total, 25 companies participated for mechanical as well as manual plots available at Paradip Port.For Manual Plot, total 17 companies participated in the e-auction. Those are:
1.Kai International
2.National Enterprises
3.Royalline Resources
4.Ujala Minerals
5.Essel Mining
6.SM Niryat
7.Shark Mines & Mineral Pvt. Ltd
8.Rungta Mines Ltd
9.Rungta Sons Pvt. Ltd
10.BICO
11.Feegrade & Company Pvt Ltd
12.Kashvi
13.Fortune Associates
14.KJS Ahluwalia
15.Global Associates
16.Orissa Metalicks Pvt Ltd
17.Chamong Tee Export Pvt Ltd
On similar lines, 8 bids were received for mechanical plot namely from Rungta Mines Ltd, Rungta Sons Pvt Ltd, BICO, Feegrade & Company Pvt Ltd, Essel Mining, JSW, Bagadiya Brothers and Kai International.
Bidders participated aggressively as compared to last e-auctions as there is a ray of hope for Indian exporters as iron ore exports from India is likely to increase in the coming fiscal. Upon removal of export duty on low grade iron ore, increased global iron ore prices as well as reduction in freight charges, iron ore exports will strengthen in FY17. So, accordingly Indian iron ore exporters and traders are more interested in participating in the plot e-auction.
However, the last e-auction of Paradip Plot e-auctions conducted on 07 Nov’15 for 10 mechanical iron ore plots of 5,000 square meter for exports received lukewarm responses. Total 3 companies participated in the auction namely JSW Steel, Rungta Mines and Bagadiya Brothers. The mechanical plot received bids for around 56 lakhs per annum. No manual plots had been allotted in the last e-auction.
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