Sector majors grab rich coal blocks at momentous values, again[/b]
The second phase of the e-auction of 11 coal mines proved to be a top prize for mineral-rich states, whose incomes enlarged to Rs 2.05 lakh crore from Rs 1.35 lakh crore in the foremost phase. Farther the received bids worth Rs 71,027 crore for 30 years (mines’ life), Rs 59,736 crore is towards royals as well as the rest is the sale amount.
The second phase was approximately alike to the first with sector majors grabbing richer coal blocks at high cost. The only exemption was Jindal with the lowest bid to obtain a rich coal block with power generation as end-use. Whereas operational coal blocks were auctioned in the primary phase, the next phase auctioned off about-to-produce mines.
The fourth as well as the very last day witness Jaypee Cement winning Mandla South in Madhya Pradesh for Rs 1,852 a tonne. This will fetch the state Rs 55.2 crore a year as sale income. Gujarat Ambuja Cement won Gare Palma-IV/8 at a latest high offer of Rs 2,291 a tonne.
This round of sale gave India’s biggest private power manufacturer, Adani Power, its primary domestic captive coal mine in Jharkhand. Adani paid Rs 302 a tonne, outbidding in office Jindal Steel & Power.
If any bidder puts an Rs 0 offer, then reverse bidding would kick in. This will assist power tariff go cheaper by as a minimum 6 paise per Rs 100 drop in coal bid amount.
Hindalco quoted Rs 2,127 a tonne to grab the Dumri block in Jharkhand for iron, steel as well as cement fields. Some coal blocks were fell from sale.
Among these, Utkal B1& B2 in Odisha were embroiled in court cases filed by the mines’ previous proprietor Jindal Steel & Power. Rohne in Jharkhand was fallen as there are no environment clearances. Durgapur II coal block in Chhattisgarh had under-building airport in excess of the land of the mine, on the point of be commissioned in April 2015.
The first phase, which ran from February 14 to 22 saw auctioning of 18 blocks earning the respective state governments cumulative profits of Rs 1.35 lakh crore. The next phase started from March 4 and ended on Sunday.
The second phase of the e-auction of 11 coal mines proved to be a top prize for mineral-rich states, whose incomes enlarged to Rs 2.05 lakh crore from Rs 1.35 lakh crore in the foremost phase. Farther the received bids worth Rs 71,027 crore for 30 years (mines’ life), Rs 59,736 crore is towards royals as well as the rest is the sale amount.
The second phase was approximately alike to the first with sector majors grabbing richer coal blocks at high cost. The only exemption was Jindal with the lowest bid to obtain a rich coal block with power generation as end-use. Whereas operational coal blocks were auctioned in the primary phase, the next phase auctioned off about-to-produce mines.
The fourth as well as the very last day witness Jaypee Cement winning Mandla South in Madhya Pradesh for Rs 1,852 a tonne. This will fetch the state Rs 55.2 crore a year as sale income. Gujarat Ambuja Cement won Gare Palma-IV/8 at a latest high offer of Rs 2,291 a tonne.
This round of sale gave India’s biggest private power manufacturer, Adani Power, its primary domestic captive coal mine in Jharkhand. Adani paid Rs 302 a tonne, outbidding in office Jindal Steel & Power.
If any bidder puts an Rs 0 offer, then reverse bidding would kick in. This will assist power tariff go cheaper by as a minimum 6 paise per Rs 100 drop in coal bid amount.
Hindalco quoted Rs 2,127 a tonne to grab the Dumri block in Jharkhand for iron, steel as well as cement fields. Some coal blocks were fell from sale.
Among these, Utkal B1& B2 in Odisha were embroiled in court cases filed by the mines’ previous proprietor Jindal Steel & Power. Rohne in Jharkhand was fallen as there are no environment clearances. Durgapur II coal block in Chhattisgarh had under-building airport in excess of the land of the mine, on the point of be commissioned in April 2015.
The first phase, which ran from February 14 to 22 saw auctioning of 18 blocks earning the respective state governments cumulative profits of Rs 1.35 lakh crore. The next phase started from March 4 and ended on Sunday.