41 coal mines on offer for commercial coal mining
Prime Minister Narendra Modi launched the auction process of 41 coal blocks for commercial mining, through video conference. The Coal Ministry in association with FICCI launched the process for auction of these coal mines. A two stage electronic auction process is being adopted for allocation of the coal mines.
In this auction process, 41 coal mines are on offer which includes fully explored and partially explored mines. These include four coking coal mines which are fully explored mines. These coal mines are located in states of Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra and Odisha. The auction process will be a two-stage tender process with technical and financial bidding.
According to the PM, government has taken a decision to spend Rs 500 billion on creating infrastructure for coal extraction and transportation, which will also create employment opportunities.
Anil Kumar Jain, Secretary, Ministry of Coal said that coal industry is being unshackled, it will no longer be captive to decision making in the government or be exclusive reserve of select corporates. He further said that commercial mining will bring coal mines and coal trade within the reach of any enthusiastic entrepreneur.
Dr Sangita Reddy, President, FICCI said that the commercial mining of coal launched by the Prime Minister would help meet the country’s energy needs, reduce dependence on imports, modernise the sector and generate jobs.
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