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Coal mines auction: Govt devises plans to seek interests of pvt sector

The government has laid down a plan to auction coal blocks which will also be a major boost for increasing the revenue streams for the mine bearing states

coal mining, coal, mining
Press Trust of India New Delhi
2 min read Last Updated : Nov 23 2021 | 1:50 AM IST

In view of acute requirement of dry-fuel in downstream sectors, the government has laid down a plan to auction coal blocks which will also be a major boost for increasing the revenue streams for the mine bearing states.

The development assumes significance in the wake of the Ministry of Coal launching the third round of commercial coal mining for 88 coal mines last month.

The coal ministry is planning to organise road shows in different parts of the country to create sensitisation on the amendments made in Acts and Rules and generate private sector interest and participation.

These road shows will be organised in Ranchi, Hyderabad and Ahmedabad, according to a notice by the coal ministry.

In this regard, the Ministry of Coal will appoint a Programme Management Partner to organise and manage this event successfully.

The country has an estimated 350 billion tonnes of coal deposits, which is third largest in the world. However, 25 per cent of coal demand is still catered through imports.

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The Ministry of Coal has been working on a plan to reform the sector by privatising coal mining in the country after removing restriction on the end use of coal earlier in the last year January by promulgating Mineral Laws (Amendment) Ordinance, 2020 to enable wider participation in auction of coal mines.

Further, 100 per cent Foreign Direct Investment was permitted under automatic route for coal mining activities including associated processing infrastructure.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Topics :Coal minescoal auctions

First Published: Nov 22 2021 | 8:30 PM IST

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