Govt receives 44 bids in 10th round of commercial coal mine auction

The government on Friday said that 44 bids have been received for 67 coal blocks put for sale under the 10th round of commercial mines auction.

A total of 44 bids were submitted in physical form.

The coal ministry in June put on sale 67 coal mines for auction under the 10th round of commercial mines auction.

"The substantial number of bids underscores the continued interest and participation from stakeholders in India's evolving coal sector," the coal ministry said in a statement.

The auction process has drawn considerable participation from small and medium-sized players, indicating the inclusive nature of the auction process. This inclusivity highlights that the reforms in the coal sector have been well received across the industry, regardless of the size of the players.

 

The online bids received during the auction process, along with the offline bids will be opened on Monday.

The strong response to this round of auctions is a significant step towards making the country self-reliant in energy and aligns with the Government's vision of self reliance.

By engaging a diverse range of participants, the Centre aims to further increase coal production, ensuring a reliable supply of dry-fuel for various sectors, thereby supporting energy security and reducing dependence on imports.

The coal ministry remains committed to fostering a dynamic and competitive environment for the coal sector, ensuring the availability of coal resources to meet the growing demands of the economy.