Coalmin makes amendments in bidding document on 3 coal blocks

Tags: Coal blocks, News
The coal ministry has made amendments in certain clauses of the bidding document pertaining to the three coal blocks put for auction.

The development follows the bidders raising concerns on various issues with regard to the mines put up for sale.

"The following amendments are applicable for requests for proposals (RFPs) of all the three coal blocks currently being auctioned -Jhirki and Jhirki (W), Tokisud-II and Andal Bubuisol," according to a Coal Ministry document.

In the earlier bidding document there was a clause which said that consortium should be limited to a maximum number of four entities. However, following the amendment it would now be six entities, the document said.

The earlier clause had said that each consortium member should have a minimum of 20 per cent share in the consortium, and following changes it stated that "each consortium member should have a minimum of 10 per cent share in the consortium," it added.

Besides, the coal ministry also issued clarifications on certain clauses like qualifying requirements and determination of coal requirement for end use plants, of the request for proposals of all the three mines currently being auctioned.

The Centre in late February had initiated the auction process for putting two mines in Jharkhand and one in West Bengal on block, having an estimated 500 million tonnes of reserves, for captive use of steel, cement and sponge iron firms.

The move came after the Centre drew flak from the Comptroller and Auditor General (CAG) for delaying the auction.

The government auditor had alleged that allotment of 57 mines to private firms without auction resulted in a notional loss of Rs 1.8 lakh crore to the exchequer.

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