GMR, Anil firm bag coal blocks

New Delhi, Feb. 14: The maiden auction of coal mines got underway today, with GMR and Reliance Cement bagging one mine each for an estimated Rs 1,375 crore and Rs 798 crore, respectively.

“GMR Chhattisgarh Energy won the Talabira-1 coal block in Odisha,” coal secretary Anil Swarup said.

GMR pipped Adani Power, Essar Power, Sesa Sterlite and others by reverse bidding at Rs 478 per tonne to get the mine, he added.

The Odisha mine, earmarked for the power sector, has extractable reserves of 28.77 million tonnes.

Anil-Ambani led Reliance Cement beat Hindustan Zinc and OCL Iron & Steel to bag the Sial Ghoghri coal mine in Chhindwara district of Madhya Pradesh. The mine has total reserves of 29.38 million tonnes and extractable reserves of 5.69 million tonnes.

Reliance Cement bid Rs 1,402 per tonne to get the mine. The block was allotted to Prism Cement earlier. This mine is earmarked for the non-power sector.

Coal and power minister Piyush Goyal told reporters that the auction proceeds will be used for the development of states, specially eastern states.

The winning bidder will pay the bid amount to the state government concerned for extracting each tonne of coal.

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