Big Wins: Coal Mine Auction Allots Five Mines to Industry Giants

NLC India Ltd, ACC Ltd, and JSW Energy Utkal Ltd, among others, secured five coal mines during the tenth round of commercial auctions. The five mines will generate significant revenue and require substantial capital investment, providing employment to over 16,000 people upon becoming operational.

NLC India Ltd, ACC Ltd, and JSW Energy Utkal Ltd emerged as key players on the first day of the tenth round of commercial coal mine auctions, clinching five out of the available mines, as per an official statement released on Thursday.

ACC Ltd successfully acquired a mine located in Madhya Pradesh, while NLC India Ltd and JSW Energy Utkal Ltd each secured a coal block in Odisha. Additionally, Mineware Advisors Pvt Ltd and Shreeji Nuravi Coal Mining and Trading Pvt Ltd were also among the winning bidders.

The auction of nine coal blocks kicked off on June 21, with forward e-auctions beginning November 21. These newly allocated mines are expected to bring annual revenues of Rs 1,106.91 crore and demand a capital investment of Rs 1,800 crore, generating employment for 16,224 individuals upon full operational capacity.

(With inputs from agencies.)