Coal Ministry hands over 8 mines to successful bidders
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
The Ministry of Coal issued the Vesting Orders for six commercial coal mines and signed agreements for two mines on Thursday.
Of these 6 coal mines whose vesting orders were issued, two coal mines are fully explored mines and the remaining are partially explored.
The cumulative peak rated capacity of 6 coal mines for which Vesting Orders have been issued comes to 7 million tonnes per annum and these mines have 2,105.74 MT of geological reserves, the Coal Ministry said.
These mines are expected to generate an annual revenue of Rs 787.59 crore calculated on the basis of peak rated capacity and will attract an investment of Rs 1,050 crore. It will provide employment to 9,464 people both directly and indirectly.
Further, Coal Block Development and Production Agreements were signed for two fully explored mines.
Coal Secretary Amrit Lal Meena urged the allottees to expedite the coal block operationalization and assured full support of the Ministry of Coal in getting requisite clearances.
With this step, vesting orders have been issued for 80 coal mines till date with cumulative peak rated capacity of 151.50 MTPA.
This will result in generating annual revenue of Rs 23,596.75 crore to the state government, and will generate employment for 2,04,821 people, both directly and indirectly.
