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India : JHARKHAND coal mine on second day of auction secured by Hindalco
Publish Date : 18-Feb-2015
The Aditya Birla Group company Hindalco secured the first block on the second day of the coal block auctions, as the aluminium-maker come out as the highest bidder with Rs.2,860 per tonne for the Kathautia mine in Jharkhand. Coal Secretary Anil Swarup said, "This would mean Rs.228 crore per annum in revenue for Jharkhand and Rs.6,800 crore for the mine-life which is 30 years”.
The coal ministry said in a statement, "As part of the auction process, technical bids -- both online bids and offline supporting documents -- were opened today (Sunday) in the presence of bidders”.
On day two of the auctions, three blocks were on offer - Belagaon in Maharashtra, Kathautia in Jharkhand and Sarisatolli in West Bengal. For Belagaon, reserved for the non-regulated sector, the qualified bidders include Bharat Aluminium Co (BALCO), Reliance Cement, Sunflag Iron and Steel and Topworth Urja and Metals.
For Sarisatolli, reserved for the power sector where the lowest bidder will win, the bidders qualified to take part in the financial round comprise Adani Power, CESC, GMR Chhattisgarh Energy, Haldia Energy and Sheesham Commercial. Reliance Cement and GMR Group gained the two blocks on offer on the first day of auctions. The Anil Ambani-led Reliance Cement, coming out as the highest bidder secured the Sial Ghoghri mine in Madhya Pradesh containing 5.61 million tonne of reserves.
GMR's subsidiary GMR Chhatisgarh Energy secured the Talabira I block with the lowest bid of Rs.478 per tonne for the mine reserved for the power sector. The Supreme Court had in September previous year cancelled the allotment of 214 mines allotted between 1993 and 2010.
