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Homechevron_rightBusinesschevron_rightGovt promises coal...

Govt promises coal mine builders any help they require in auctions

Govt promises coal mine builders any help they require in auctions

New Delhi: Promising any help from the coal ministry, Coal Secretary Amrit Lal Meena asked investors to participate in a commercial mines auction on Tuesday, PTI reported.

In his virtual address during a roadshow in Ranchi, he emphasised that investors should participate in coal mine auctions as the coal mining business is highly profitable, which can be seen from the coal mines that have already started coal production under commercial mining.

Coal's additional secretary, M Nagaraju, welcomed all the investors and informed the forum about the coal reforms undertaken by the Centre to improve the attractiveness of the coal auction process and make it more investor-friendly.

Coal India Chairman P M Prasad applauded the efforts of the Ministry of Coal in making commercial coal mine auctions a success by auctioning 91 coal mines in such a short span of time.

He also welcomed the steps being taken by the ministry in providing support by launching a 'Single Window Clearance system' and setting up a project monitoring unit to help the successful bidders of the coal mine in early operationalisation.

The coal ministry has so far completed a successful auction of 91 coal mines in the first seven tranches.

It has launched the process for auction of 35 coal mines under the eighth round of commercial auctions and four coal mines under the second attempt of the seventh round of commercial auctions.

Additionally, the ninth round, offering 27 coal mines and five coal mines under the second attempt of the seventh round, was also launched in December last year.

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