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Business News/ Companies / News/  JSW, Tata Steel, ACC bid for coal mines
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JSW, Tata Steel, ACC bid for coal mines

Jharkhand received six bids, the highest number of bids, followed by Lamatola in Madhya Pradesh with five bids and Baisi in Chhattisgarh with four bids

A total of 27 mines were on offer in the 9th round, while bids were received only for 13 mines.Premium
A total of 27 mines were on offer in the 9th round, while bids were received only for 13 mines.

New Delhi: JSW Steel, Tata Steel, Adani Group-backed ACC Ltd and JK Cement Ltd are among the 27 companies which have submitted bids for coal mines under the latest round of coal mine auctions which included the ninth round and the second attempt for seventh round. 

A total of 27 mines were on offer in the ninth round, while bids were received only for 13 mines, according to a statement from the union ministry of coal.

“Under 9th round, a total of 27 coal mines were put up for auction and 33 bids were received against 13 coal mines. Under 2nd attempt of seventh round, a total of five coal mines were put up for auction and 7 bids received against three coal mines," it said. Among the mines offered under the ninth round, Dumri in Jharkhand received six bids, the highest number of bids, followed by Lamatola in Madhya Pradesh with five bids and Baisi in Chhattisgarh with four bids.

“A total of 27 companies including major companies like Tata Steel Ltd, JSW Steel Ltd, Rungta Sons Pvt. Ltd, etc. have submitted their bids in the auction process," the statement said.

Among the companies, Rungta Sons Private Limited submitted the highest number of bids, with bids for five mines, followed by JSW Steel and JK Cement which have submitted bids for four mines each. Tata Steel has bid for two mines, while ACC Ltd has placed bids for one mine.

Centre is expected a production of 186.63 million tonnes (mt) coal from captive and commercial coal mines during FY24-25.

In an official statement last month, the ministry stated that there are plans in place for production to be further stepped up to 225.69 mt during FY26, with an eventual target of 383.56 mt by FY29-30.

In the current financial year, the government is aiming for a production target of 162 mt coal from the captive and commercial mines.

Adding that six mines with a cumulative peak rated capacity (PRC) of 14.87 mt have already started production within three and a half years after the commencement of the commercial coal mines auction in 2020, the ministry had said that in December 2023, the total coal production from these captive and commercial coal mines stood at 14.04 mt, up by 38% from 10.14 mt in December 2022.

As of 31 December 2023, there were 50 captive and commercial coal mines under production, out of which 32 mines are allocated to the power sector, 11 to the non-regulated sector, and seven mines are allocated for the sale of coal.

 

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Published: 21 Feb 2024, 01:25 AM IST
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