Coal auction: JP Cement bids highest for Maharashtra mine

JP Cement emerged as the highest bidder at Rs.1,230 per tonne for the Majra mine in as coal auctions resumed on Thursday with this sole block up for bidding after a day of auctions was stalled by legal and safety issues.

“J P Cements bids the highest 1230 for Majra Coal Block,” tweeted Coal Secretary Anil Swarup.

“Bidding for Majra Coal Block continues even after initial 2 hour stipulated time. Stands at 814,” he tweeted earlier of the mine which had an auction floor price of Rs.800.

“Total proceeds to host state Rs.1835.26 crore,” the coal ministry said in a message at the close of the Majra auction.

The Majra mine has extractable reserves of 14.92 million tonnes (MT), for which firms like ACC, Crest Steel and Power, Emami Cement, Grace Industries, JP Cement and JK were in the race.

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