NEW DELHI: Metal mining conglomerate Vedanta Ltd, together with Hindalco Industries, Adani Power Maharashtra and Bharat Aluminium Company Ltd (Balco) are among the 20 entities that have submitted bids for 19 coal mines put up for sale in the second round of auctions for commercial mining.
According to reports, out of the total 34 bids submitted by these companies, the maximum (four each) were from Aurobindo Realty & Infrastructure Pvt Ltd and Sunflag Iron and Steel Company Ltd. Three bids each came from Shree Satya Mines Pvt Ltd and South West Pinnacle Exploration Ltd. Adhunik Power & Natural Resources Ltd, CG Natural Resources Pvt Ltd and Jhar Mineral Resources Pvt Ltd submitted two bids each. Companies like Vedanta, Hindalco Industries Ltd, Bharat Aluminium Company Ltd and Adani Power Maharashtra Ltd put in one bid each.
"A total of 20 companies have submitted their bids in the auction process," the coal ministry said. A total of 34 bids have been received for the 19 coal mines, of which 10 are fully explored mines and nine are partially explored. Four of these mines are coking coal mines while the remaining 15 are non-coking coal ones. "Two or more bids have been received for eight coal mines," the statement read.
Coronavirus impact: India Inc revenues may decline 10 pc sequentially in Q1
FM at G20: India’ fiscal policy steps are taken for better environmental outcomes.
Fitch Ratings downgrades India growth forecast to 10 pc from 12.8 pc