COAL AUCTION ROUND III NETS GOVTRS 4,362 CR
Jaypee Cement won the Majra coal block in Maharashtra with a winning bid of Rs 1,230 per tonne as the government concluded the third tranche of coal auctions, netting a total of about `4,362 crore from three mines.the government originally planned to action 10 blocks in the third tranche. Bidding for four were cancelled because of lukewarm response while auction of three was deferred for reasons such as lawsuit and technical issues.
Jaypee Cement outbid ACC Ltd, Crest Steel & Power, Emami Cement, Grace Industries, Jaypee Cement and JK Lakshmi Cement to bag the Majra coal block that has total extractable reserves of 14.92 mt. The coal block was previously owned by Gondwanaispat.
On the first day of the auction recently, the government had sold one block each in Chhattisgarh and Maharashtra, which together would fetch revenues of `2,527 crore to the government spread over the life of the mines.
Crest Steel & Power won the Bhaskarapara coal block in Chhattisgarh at a price of `755 per tonne while Topworthurja& Metals won Markimangli-i coal block in Maharashtra at `715 per tonne.
Before this round, the government had auctioned 29 coal blocks in two tranches to private companies and garnered over `2 lakh crore. The Supreme Court had in September last year cancelled allocation of 204 mines to firms without auction.