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Govt to scrutinise applications for 4 coal mines by Jan 15

Last Updated: Wednesday, January 8, 2014 - 17:47

New Delhi: The Coal Ministry will scrutinise the applications for the allotment of four coal blocks to power producers through tariff-based bidding by January 15.

The last date for receiving the applications was January 5, according to a Coal Ministry note, which provides the details for the award of coal blocks to power plants based on tariff-based competitive bidding.

The Coal Ministry had invited applications for the coal blocks on December 20.

The government had said earlier that under the newly- initiated bidding policy 17 coal mines - 14 for power and 3 for mining - were recently allocated to state government companies and Central PSUs.

The government has also put on offer 5 lignite blocks in Gujarat and Rajasthan for power/commercial mining/underground coal gasification.

Coal Minister Sriprakash Jaiswal had said that the much-awaited auction of coal blocks may happen in March.

The Cabinet had earlier approved the methodology for the auction, providing for upfront and production-linked payments and benchmarking of coal sale prices.

The policy provides for production-linked payment on a rupee per tonne basis, plus a basic upfront payment of 10 percent of the coal block's intrinsic value.

First Published: Wednesday, January 8, 2014 - 17:47
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