The Odisha government has ruled out the participation of Sociedade De Fomento Industries Pvt Ltd for the Nadidih iron ore block e-auction scheduled for 24 Aug’21. This is due to the Goa-based company’s inability to commence operations at the block after it was allotted to it at the Odisha auctions in 2020. The Nadidih iron ore block has an EC limit of 5.3 mn t and was allotted to Fomento at a premium of 141.25%. The block was previously operated by BICO. Fomento, however, can participate in e-auctions of other mineral blocks in Odisha.
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