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India : SCHEDULE III coal mines receives 130 bids
Publish Date : 18-Feb-2015
Coal block auction carries on to get good response from investors with a total of 130 bids gained by the coal ministry for 20 schedule III mines put on block. The schedule III mines are not functioning however have the requisite clearances that could help start production early. There was a fear that after getting good response from operational mines (176 bidders for 21 mines), the investor interest would be subdued for these mines. As per to a government statement, the bids for schedule III mines would be assessed and short-listed by a multi-disciplinary technical evaluation committee for participation in the e-auction, to be conducted on MSTC portal from February 25.
In case of the schedule III mines, maximum number of bids has been gained for Utkal C coal block that was earlier allotted to UCL, a special purpose vehicle set up by the Indian Metals & Ferro Alloys (IMFA), an integrated ferro alloys producer based in Odisha. In all 16 bids have been received for this block followed by Gare Palma IV/8 (13 bids), Jamkhani (11) and Ganeshpur and Tara (10 bids each).
The tender process for the schedule III mines began on January 5. As part of the auction process, technical bids, both online bids and offline supporting papers, were opened in bidders’ presence.
Government suggested to award 101 coal blocks (nine more added now to the list of blocks to be allotted to state entities) to end-users in power, cement and steel sectors in the first phase. But this number has now decreased as orders by Delhi and Jabalpur high courts have forced the Centre to take five coalmines out of the auction process. Auction for another 3 blocks would get delayed as they do not have green clearance and fall in the no-go zone for mining.
