Home ECONOMY Coal India won’t take part in auction of two Odisha blocks

Coal India won’t take part in auction of two Odisha blocks

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Kolkata, Dec 13;

The future of Coal India’s two blocks in Odisha remains uncertain as the company will not be participating in the upcoming coal block auction in January, company sources said Saturday.

coal minesThe sources said the auction was for “end-users” and since Coal India does not fall in that category, it cannot go for the auction.

“The two blocks (Ib and Talcher) are there in the auction list,” a company official told IANS.

With Coal India not particular about the first round of relocation of coal blocks, the fate of the two mines in Odisha remains uncertain.

Mahanadi Coalfields Ltd (MCL), a subsidy of Coal India, developed the two blocks – the Ib coalfield in partnership with Hindalco and the Talcher field in association with Shyam DRI, Jindal Power and Jindal Steel – resulting in two distinct joint ventures.

Both of these were wrapped up following the Supreme Court’s order nullifying the sale.

Parliament Friday passed the Coal Mines (Special Provisions) Bill, paving the way for auction of 204 coal blocks de-allocated by the apex court in September.

(IANS)