In a historic milestone for India's energy sector, the Ministry of Coal conducted its 200th auction of coal blocks under the existing commercial mining reforms. The milestone reflects the government's efforts currently to boost the role of the private sector, enhance energy security, and decrease coal import reliance while bringing up a technology-savvy and transparent coal culture.
In a report titled "Policy Initiatives for Industrialisation," the Ministry referred to its efforts towards instigating a healthy, investor-friendly climate through the elimination of red tape and the acceleration of the development of coal blocks in the entire nation. The steps aim at accelerating implementation as well as higher local availability of coal.
This was followed by the Ministry's Nominated Authority conducting the 12th round of auctions of commercial coal blocks, where 41 offers for 11 blocks were received. The auctioning process was to the core transparent, with electronic decryption of online/offline offers placed and offline bid envelope opening in front of the bidders. The process was broadcast live on a screen before the entire participant base for viewing in real time.
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Major bidders for this round who have expressed interest in participating are Damodar Valley Corporation, NLC India Ltd, Jindal Steel and Power Ltd, Amalgam Steel and Power Ltd, Oriental Quarries and Mines Pvt Ltd, and Penna Shipping Ltd, among others. 38 eligible bids were received for 8 coal blocks that were put up for auction in this round.
The Ministry's ongoing program of reforms continues to develop the coal sector into a new, competitive, and forward-looking industry very much in keeping with India's overall economic and energy ambitions.
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