Himachal Pradesh Government Partners with MSTC Ltd for E-Auction of Mining Leases

The Himachal Pradesh government signed an MoU with MSTC Ltd to enable e-auctions for mining leases, aiming to boost state revenue and local employment. Key limestone blocks in Solan and Shimla will be auctioned. Additionally, HP General Industries Corporation Ltd declared a 7% dividend for FY23, surpassing government directives.

The Himachal Pradesh government has entered into a partnership with MSTC Ltd to initiate e-auction services for mining leases and composite licenses, announced Industries Minister Harshwardhan Chauhan on Friday.

The state plans to auction significant limestone blocks in Arki tehsil of Solan district and Sunni tehsil of Shimla district, both known for their high-quality limestone suitable for cement, steel, glass, and fertilizer industries.

In signing the memorandum of understanding (MoU), Director of Industries Rakesh Kumar Prajapati represented the state, while Regional Manager Nitin Anand signed on behalf of MSTC Ltd, a Government of India enterprise under the Ministry of Steel.

This initiative is projected to enhance state revenue and provide employment opportunities, said Chauhan.

In related news, the minister also presided over the 231st Board of Directors meeting of HP General Industries Corporation Ltd, where the board approved a 7% dividend payment to the state government for FY23, amounting to Rs 50.06 lakh. This total represents a 2% increase over the government's standard directive of 5%.

The corporation reported a profit of approximately Rs 2.85 crore during April-May 2024, showcasing strong performance.

(With inputs from agencies.)