Home ECONOMY Odisha to get Rs 45630 cr from first phase of coal auctions

Odisha to get Rs 45630 cr from first phase of coal auctions

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Odisha Sun Times Bureau
Bhubaneswar, Aug 22:

An estimated Rs 45630 Crore will come to the coffers of Odisha Government after the first phase of coal mine auctions, Steel and Mines minister Prafulla Mallick informed the state assembly in a written reply yesterday.

File Pic
File Pic

The estimated revenue from e-auction proceeds, royalty, fixed reserve prices will come to the state treasury within a span of 25-30 years. The union government has agreed to pay Rs 12.52 crore to the state in the first phase.

As of now, nine coal blocks from the state have been auctioned and all of them have been earmarked for the power sector.

Out of the nine blocks, th bids have been finalised in respect of three blocks -Talabira, Mandakini and Utkal C. While GMR Chhattisgarh Energy Ltd has won the Talabira coal block, Mandakini block has gone to Mandakini Exploration and Mining Ltd, a joint venture (JV) between Monnet Ispat & Energy and Jindal India Thermal Power Ltd. Monnet Power Company, which had bagged the Utkal-C block, is set to surrender it citing that the proposed changes in electricity tariff rules will render the project economically unviable.

Odisha Coal & Power Ltd (OPCL), a 51:49 PSU joint venture between (OPGC) and Odisha Hydro Power Generation Corporation (OHPC) has been allocated the Manoharpur and Manoharpur Dip side coal blocks by the Ministry of Coal. Two more coal blocks – Dulanga and Naini – have been allocated to NTPC and Singareni Collieries Company Ltd respectively.

Four more coal blocks – Mahanadi, Machhakata, Chhendipada and Chhendipada II – have been earmarked by the Coal ministry for allotment to government corporations under the provisions of Coal Mines (Special Provisions) Act of 2015. However, these four blocks are yet to be allocated to any PSU.

The state government has requested the Union Coal Ministry to allocate Chhendipada and Chhendipada II coal to Odisha Thermal Power Corporation Ltd (OTPCL), a 50:50 joint venture between Odisha Mining Corporation (OMC) and Odisha Hydro Power Corporation (OHPC).

Besides, the Coal ministry has already issued notifications for 10 more coal blocks for auction in the third round including the Jamkhani coal block. All these blocks are for unregulated sectors.

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