E-auction Coal Blocks

Government has cleared supply of coal by companies including Coal India Limited through a common e-auction window rather than sector-specific auctions

The Supreme Court today directed that the November 9 e-auction of 37 coal blocks, including five in Jharkhand, shall be subject to its final order.

The Union government has added another coal block to the list of mines to be auctioned in the fourth round next month, taking the total number of blocks on sale to 9. It had kick-started the process last month for the fourth round of e-auctioning eight coal blocks.

The government had earlier this month kick-started the process for the fourth tranche of e-auctioning of eight coal blocks.

The government today kick-started the process for the fourth round of e-auctioning of eight coal blocks, which is slated for January 18-22 next year.

The Coal Ministry will in the week starting June 29 hold a review meeting with companies including Adani Power, Essar Power and GMR to evaluate status of transfer of various clearances and schedule of opening of coal mines allocated to them through auction recently.

Jaiprakash Associates, Durgapur Projects and B S Ispat bagged one mine each on the third day of the coal block auction on Monday, taking the total number of coal blocks sold through e-auction to eight so far.

According to India Ratings report, e-auctions will reduce the fuel availability risks for companies. The eligibility criteria, linked to the preparedness status of the end-use plants (80% of investment made for schedule II mines and 60% in schedule III mines), accords priority to operational and near-completion end-users for bidding.

Mr Swarup made it clear that the auction would not be a "revenue maximising exercise" and that the government wants to ensure that power tariffs do not rise after the auction.

The government has announced draft rules for the e-auction of coal blocks whose allocation was cancelled by the Supreme Court. 72 blocks will be auctioned only to specified end-users, Coal Secretary Anil Swarup said today.

With the government expected to put 74 coal blocks on e-auction soon, most of them operational, Rattan India Power has decided to participate in the bidding so as to revive its nearly 2,700-MW worth of projects it had earlier shelved for want of fuel.

Days after promulgating an Ordinance to e-auction the coal blocks cancelled by the Supreme Court, the government has formed a committee headed by former Central Vigilance Commissioner Pratyush Sinha to assess compensation to be paid for taking over running or ready-to-produce mines.

All firms which had their coal blocks cancelled by the Supreme Court, barring those convicted for offences related to mines allotment, can bid in the e-auction after paying additional levy, says the Ordinance on coal mines.

The e-auction of coal blocks for private companies on Tuesday received the nod from President Pranab Mukherjee who promulgated an Ordinance cleared by the Union Cabinet in the backdrop of a Supreme Court order quashing 214 coal blocks to companies since 1993.

The e-auction of coal blocks for private companies today got the nod from President Pranab Mukherjee who promulgated an ordinance cleared by the Union Cabinet in the backdrop of Supreme Court order quashing 214 coal blocks to companies since 1993.

Government has cleared supply of coal by companies including Coal India Limited through a common e-auction window rather than sector-specific auctions

The Supreme Court today directed that the November 9 e-auction of 37 coal blocks, including five in Jharkhand, shall be subject to its final order.

The Union government has added another coal block to the list of mines to be auctioned in the fourth round next month, taking the total number of blocks on sale to 9. It had kick-started the process last month for the fourth round of e-auctioning eight coal blocks.

The government had earlier this month kick-started the process for the fourth tranche of e-auctioning of eight coal blocks.

The government today kick-started the process for the fourth round of e-auctioning of eight coal blocks, which is slated for January 18-22 next year.

The Coal Ministry will in the week starting June 29 hold a review meeting with companies including Adani Power, Essar Power and GMR to evaluate status of transfer of various clearances and schedule of opening of coal mines allocated to them through auction recently.

Jaiprakash Associates, Durgapur Projects and B S Ispat bagged one mine each on the third day of the coal block auction on Monday, taking the total number of coal blocks sold through e-auction to eight so far.

According to India Ratings report, e-auctions will reduce the fuel availability risks for companies. The eligibility criteria, linked to the preparedness status of the end-use plants (80% of investment made for schedule II mines and 60% in schedule III mines), accords priority to operational and near-completion end-users for bidding.

Mr Swarup made it clear that the auction would not be a "revenue maximising exercise" and that the government wants to ensure that power tariffs do not rise after the auction.

The government has announced draft rules for the e-auction of coal blocks whose allocation was cancelled by the Supreme Court. 72 blocks will be auctioned only to specified end-users, Coal Secretary Anil Swarup said today.

With the government expected to put 74 coal blocks on e-auction soon, most of them operational, Rattan India Power has decided to participate in the bidding so as to revive its nearly 2,700-MW worth of projects it had earlier shelved for want of fuel.

Days after promulgating an Ordinance to e-auction the coal blocks cancelled by the Supreme Court, the government has formed a committee headed by former Central Vigilance Commissioner Pratyush Sinha to assess compensation to be paid for taking over running or ready-to-produce mines.

All firms which had their coal blocks cancelled by the Supreme Court, barring those convicted for offences related to mines allotment, can bid in the e-auction after paying additional levy, says the Ordinance on coal mines.

The e-auction of coal blocks for private companies on Tuesday received the nod from President Pranab Mukherjee who promulgated an Ordinance cleared by the Union Cabinet in the backdrop of a Supreme Court order quashing 214 coal blocks to companies since 1993.

The e-auction of coal blocks for private companies today got the nod from President Pranab Mukherjee who promulgated an ordinance cleared by the Union Cabinet in the backdrop of Supreme Court order quashing 214 coal blocks to companies since 1993.