Home ECONOMY GMR bags Odisha’s Talabira I coal block as auction begins

GMR bags Odisha’s Talabira I coal block as auction begins

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Odisha Sun Times Bureau
New Delhi, Feb 14:

GMR Chhattisgarh Energy won the Talabira-1 coal block in Odisha in the maiden auction of coal mines that got under way on Saturday for an estimated Rs 1375 crore, said sources in the Union Coal ministry.

GMR

The other coal mine that was auctioned on Saturday, Sial Ghoghri in Chhindwara district of Madhya Pradesh, was won by Reliance Cement for Rs 798 crore, the sources added.

Sources in the ministry said GMR Chattisgarh Energy won the coal block putting behind Adani Power, Essar Power, Sesa Sterlite and others by bidding at Rs 478 per tonne to get the mine.

The Odisha mine earmarked for the power sector has extractable reserves of 28.77 million tonnes.

Similarly, Anil-Ambani led Reliance Cement beat Hindustan Zinc (HZL) and OCL Iron & Steel to bag the Sial Ghoghri coal mine by bidding Rs 1,402 per tonne. The block was allotted to Prism Cement earlier. This mine is earmarked for the non-power sector.

The government decided to put up 19 blocks on sale in the first lot after the Supreme Court allocated 204 mines for sale through the auction route in September last year.

After clearing the technical bidding stage, entities from Reliance, Adani, Essar, GMR, Vedanta and Aditya Birla groups became eligible to bid for two blocks — one in Odisha and the other one in Madhya Pradesh.

The ministry has termed Saturday’s bidding as aggressive and has opined that it is good for the state governments as it would fetch good revenue.

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