Indian ministry of coal has successfully auctioned 13 blocks, 5 for the power sector and the rest for unregulated sectors. The e-auction began on Saturday and is seeing aggressive bidding, with the final bid 10 times or more the floor price. The proceeds generated, which include royalty, would go to the states hosting the blocks. The amount generated through auction is more than INR 60,000 crores
The government has a two pronged strategy for e-auction of the cancelled blocks. Where the end use is generation of power, there is a reverse auction. For the unregulated sectors of iron, steel and cement, there is forward bidding.
Power Sector
Block | State | Reserve | Winner | Rate | |
Day 1 | Talabira-I | Odisha | 28.77 | GMR Chhattisgarh | 478 |
Day 2 | Sarisatolli | West Bengal | CESC Ltd | 477 | |
Day 3 | Trans Damodar | West Bengal | 48.4 | Durgapur Projects | 940 |
Day 4 | Amelia North | MP | 70.28 | Jaiprkash Power | 712 |
Day 5 | Tokisud North | Jharkhand | 51.97 | Essar Power | 1110 |
Rate in INR per tonne
Others
Block | State | Reserve | Winner | Rate | |
Day 1 | Sial Ghoghri | MP | 5.69 | Reliance Cement | 1402 |
Day 2 | Kathautia | Jharkhand | 26.01 | Hindalco | 2860 |
Day 2 | Belagaon | Maharashtra | Sunflag | 1785 | |
Day 3 | Marki Mangli III | Maharashtra | 4.2 | BS Ispat | 918 |
Day 3 | Mandla North | MP | 84.0 | Jaiprakash Associates | 2505 |
Day 4 | Ardhagram | West Bengal | 19.29 | OCL Iron & Steel | 2302 |
Day 4 | Chotia | Chattisgarh | 13.57 | Balco | 3025 |
Day 5 | Gare Palma IV/5 | Chattisgarh | 50.0 |
Rate in INR per tonne
(Source - Steel Guru, 19 Feb, 2015)
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