PTI cited Mr Sriprakash Jaiswal Indian minister of coal as saying that even steelmakers, who may commit investments of thousands of crores, will have to bid like anyone else if they want coal blocks for their power or steel projects.
Mr Jaiswal said "We are coming out with a new policy for captive coal blocks. Everyone will have to bid if they want coal blocks."
He said “The government would introduce a policy facilitating e-auctioning of coal blocks for captive use, possibly in next 3 months. The move will speed up the process of such allotments. The government will frame rules in such a way that firms with proposed steel, power or cement plants would be given priority.”
Source From: http://www.steelguru.com/news/index/2009/07/13/MTAxODgw/E_auction_for_captive_coal_blocks_on_the_anvil.html
With the competitive bidding, the coal ministry seeks to generate additional revenues which will be used in exploring new coal properties.
He said the e-auctioning would also check the prevalent undervaluation of the dry fuel.
(Sourced from Press Trust of India)
Sunday, July 12, 2009
E auction for captive coal blocks on the anvil
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