Centre to host roadshow in Kolkata on coal mine auctions tomorrow
The Ministry of Coal will host a roadshow on Coal Mine Auctions and Opportunities in the Coal Sector on Wednesday in Kolkata, according to an official statement issued on Tuesday.
The roadshow aims at highlighting the wide array of opportunities available in the coal sector, driven by significant government reforms aimed at streamlining processes, enhancing transparency, and creating a level playing field for all stakeholders, the statement said.
The event will provide in-depth details into the upcoming Commercial Coal Mine auctions, discuss the investment potential, and showcase the long-term benefits of participating in India’s growing coal sector.
“This roadshow is a valuable platform for stakeholders to learn about the regulatory framework, streamlined clearance processes, and the ministry’s efforts to foster an investor-friendly environment in the coal sector. The Ministry is committed to ensuring that the coal industry remains globally competitive, offering a win-win scenario for both domestic and international investors looking to capitalise on the opportunities in India’s energy landscape,” the statement said.
The event also provides an exclusive opportunity for participants to connect with key decision-makers, gain valuable insights into future coal sector trends, and explore collaborative ventures that can shape the future of India’s energy and mining sectors.
The key reforms that have been introduced in commercial coal mine auctions include a reduction in the upfront amount and bid security amount making participation more financially accessible. Investors are also allowed to relinquish part of the coal mine for partially explored blocks, providing greater operational flexibility.
Besides, rebate in performance security for underground coal mines to encourage investment and a more inclusive auction process has been introduced by facilitating ease of participation with no entry barriers.
Full flexibility in coal utilisation, enabling companies to use coal for any purpose as per their business needs is another incentive that forms part of the reforms.
Optimised payment structures and incentives for early production have also been introduced.
