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Coal block auction: Jaypee Cement bags Maharashtra’s Majra mine

The third phase of coal block auctions culminated on Thursday with Jaypee Cement winning Maharashtra’s Majra mine, the only mine to be bid out on the last day.

Coal India shares, sensex
Coal India had last month held the first phase of special e-auction for the ongoing fiscal. (Reuters)

The third phase of coal block auctions culminated on Thursday with Jaypee Cement winning Maharashtra’s Majra mine, the only mine to be bid out on the last day. It won the mine at Rs 1,230/tonne which would accrue Rs 1,835 crore to the state over 30 years. The latest round of auctions, that features three blocks, will fetch over Rs 4,300 crore to Chhattisgarh, Maharashtra and Jharkhand over 30 years. Although the government had planned to auction 10 blocks in the just concluded phase, it could only bid out 3 mines due to roadblocks, including court order and lack of interest among bidders.

Jharkhand’s Chitrapur block is likely to be auctioned at a later date as it was held back on Wednesday owing to the Delhi High Court order that had asked the government to defer auction for the block by a day.

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