JSPL emerges as the highest bidder for the Gare Palma IV/1 coal block in Chhattisgarh
New Delhi, November 5 () Jindal Steel and Power Ltd (JSPL) has become the highest bidder for the Gare Palma IV/1 coal block in Chhattisgarh with a bid price of Rs 230 per ton, an official said.
Apart from this, Birla Corporation Ltd has become the highest bidder for the Bikram coal block in Madhya Pradesh with an offer price of 154 rupees per ton, said the official citing the results of the electronic auction for coal mines in eight sections.
While there are six mines on offer, the two auctions have been completed, the official said.
In the coal block auction previously held, Balco, part of Vedanta Ltd, led by Anil Agarwal, had become the highest bidder for Gare Palma IV/1.
However, the government rejected its offer and appointed Coal India Ltd as the designated custodian for the mine.
The Gare Palma IV/1 coal block in the Raigarh district of Chhattisgarh has a total of exploitable reserves of 114.16 million tons (removable according to the mining plan). The coal block was owned by JSPL before the Supreme Court in 2014 canceled 204 coal mines assigned to different government and private companies since 1993 under the provisions of the Coal Mining (Nationalization) Act, 1973. SID HRS