The successful allottees of the 19 coal blocks the government is planning to auction this fiscal for sectors including iron and steel will be allowed to sell up to 25 per cent of the actual production in open market at prices fixed by state-owned Coal India. “The successful bidder shall utilise a minimum of 75 per cent of the actual production in the specified end use plants and is allowed to sell up to 25 per cent of the actual production in open market,” according to the tender document for auction of coal mines for iron, steel, cement and captive power plants.
When asked about the number of blocks to be auctioned, he said, “Hopefully, 19 coal mines,” a source said.
Giving the break-up of blocks, the source said that of the 19 blocks, 13 mines would be auctioned in the sixth tranche for the regulated sectors, including iron and steel, cement aluminium, captive power plants. Read more
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