Paradip Plot Trust has recently conducted auction for 7 mechanical plots on 16th Jan’17. Plot auction has seen aggressive bidding from various traders as iron ore and pellet exports from Indian east coast region have seen a remarkable increase in the last one year.
Total 7 mechanical plots were put under e-auction, each of 5,000 square meter. 19 companies qualified the technical round for 7 mechanical plots with base price set at INR 62 per square meter. However, according to sources, the bids received were above INR 1,000 per square meter of plot per month.
Major companies which participated and qualified technical round are JSPL, Rashmi Metaliks, Bagadiya Brothers, Kaypee Enterprises, Amba River Coke Limited, Royalline Resources etc.
Bidders aggressively participated as iron ore and pellets exports have shown tremendous growth in last 1 year. In addition, bidders are also hopeful that government may take some measures to enhance exports further by reducing freight or changes in duties this year.
The last e-auction which conducted on 04 Apr’16 for 10 mechanical plots (each plot of 5,000 square meters) was closed at INR 17 per 5000 square meter of plot per month.
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