44 bids have been received for 67 coal blocks put up for sale under the 10th round of auction of commercial mines. The government gave this information on Friday. A total of 44 bids were submitted in physical form. The Coal Ministry had put 67 coal mines up for sale in the 10th round of commercial mine auction in June. The coal ministry said in a statement that the substantial number of bids underlines the continued interest and participation of stakeholders in India’s emerging coal sector, PTI reported.
Got good response in the industry
According to the news, there has been considerable participation from small and medium-sized players in the auction process, which reflects the inclusive nature of the auction process. This inclusiveness highlights that reforms in the coal sector have been well received across the industry, irrespective of the size of the players. The offline bids along with the online bids received during the auction process will be opened on Monday.
An important step towards becoming self-reliant
The strong response to this round of auction is an important step towards making the country energy self-reliant and is in line with the government’s vision of self-reliance. By involving a diverse range of participants, the Center aims to further increase coal production, ensure reliable supply of the dry fuel to various sectors, thereby promoting energy security and reducing dependence on imports. The Ministry of Coal is committed to promoting a dynamic and competitive environment for the coal sector, so as to ensure availability of coal resources to meet the growing demands of the economy.
The government had two months ago said that out of 28 coal mining projects identified to be operated through mining operators-cum-developers, 18 mines have been awarded to leading private firms. The participation of these Mining Developers-cum-Operators (MDOs) is expected to contribute substantially to coal production, ensuring both production growth and operational excellence.
