Big Players to Battle in Third Coal Block Auction

The third round of coal block auction has attracted aggressive bidding by the country’s big private players such as JSW Steel, Hindalco, Jindal etc.

After successful completion of last two schedules (Schedule II & III) the government started the third tranche of coal block auction on 8 June’15, with 10 leftover coal blocks to be auctioned. This round has attracted aggressive bidding by the country’s big private players for several mines which were offered in earlier rounds but failed to find bidders. As a part of the auction process, technical bids comprising of online and offline bid documents were opened today 3:00 pm in the presence of the bidders.

Companies such as JSW, Hindalco, Jindal Iron & Steel, BALCO, Bhushan Power & Steel, ACC and Vedanta,besides SAIL and RINL, are in the battle for the auction of blocks.

Jamkhani Mine has received 6 bids, the highest number of bids received from the companies in the auction. Few mines like Parbatpur Central, which were not sold in earlier auctions owing to low participation, have received bids from big players like JSW Steel and SAIL. Lloyd Steel and Topworth Urja amongst bidders for Marki-Mangli-I.

The online bids were decrypted and opened electronically in the presence of the bidders. Entire process was displayed on the screen for the bidders. Subsequently, sealed envelopes containing offline bid documents were also opened in the presence of bidders. The bids will be evaluated by a multi-disciplinary Technical Evaluation Committee and technically qualified bidders would be shortlisted for participation in the electronic auction to be conducted on MSTC portal from August 11, 2015.

Coal Mines in Auction and Number of Bids Received

Sourced  PIB