​​​
  1. Govt announces technical bids for 10 coal mines in third tranche

Govt announces technical bids for 10 coal mines in third tranche

The government on Monday announced that the third phase of coal block auctions received 32 technical bids for 10 mines meant...

By: | New Delhi | Published: July 28, 2015 1:18 AM

The government on Monday announced that the third phase of coal block auctions received 32 technical bids for 10 mines meant for the unregulated sector in the third tranche of such e-auctions. The unregulated sector includes cement, steel, iron and power plants meant for captive use.

Of the total available mines, 4 have received less than 3 technical bids, which makes them ineligible for further rounds in the bidding process. As per rules in the tender document, a mine must have more than 2 technically qualified bidders for the next stage of auction.

Even mines that have received more than 2 bids in the technical stage could be taken out of the process if the number of technically qualified bids drops below 3. The technically qualified companies will be announced on August 7. This will be followed by the financial bid on August 11.

At least 6 mines in the current phase are those that had to be taken out of earlier rounds due to insufficient bidders.

While two of them have managed at least 3 bidders for the auction process to enter the next stage, the remaining three mines have again met the same fate as they failed to attract the required number of bidders. These mines will now be taken out of the process.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Go to Top