JOIN USIn another revenue bonanza from the ongoing auction of coal mines, the government on Sunday garnered Rs 5,164 crore from the sale of two more mines to Jaypee Cement and Ambuja Cements with cumulative proceeds surging to Rs 1.57 lakh crore.
The auction for Ganeshpur mine in Jharkhand, which is meant for power sector, is still on.
On the fourth day of second tranche of ongoing auctions, in fierce biddings that lasted for hours, Ambuja Cement clinched Gare-Palma Sector-IV/8 block in Chhattisgarh while Jaypee Cement Corporation grabbed Mandla-South block in Madhya Pradesh.
“Gare Palma IV/8 closes at (Rs) 2,291. Ambuja Cements is highest bidder. Jaypee Cement highest bidder at (Rs) 1852 for Mandla South,” Coal Secretary Anil Swarup said.
These two mines would contribute a cumulative Rs 5,164 crore to the state exchequer. Two more coal blocks—Utkal C and Lohari—will be auctioned on Monday.