Published On: Thu, Mar 12th, 2015

Rs. 209740 Crore of Revenue Likely to be Generated from 33 Coal Mines Auctioned

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New Delhi: No allocation of coal mines/blocks has been done through e-auction, previously. Coal mines/blocks of Schedule-II and Schedule-III coal mines have been put to auction as per the provisions of the Coal Mines (Special Provisions) Second Ordinance, 2014.

1390557_341841309320355_451951570937771485_nThis was stated by Sh. Piyush Goyal, Minister of State (I/C) for Power, Coal & New and Renewable Energy in a written reply to a question in the Lok Sabha today. The auction of coal blocks is an ongoing process and so far biddingfor 33 coal mines/blocks has been completed.The total estimated amount of revenue likely to be generated from 33 coal mines already auctioned isRs. 209740 Crore. In addition, power fuel cost will reduce by approximately Rs.96971 Crore resulting in power tariff savings for consumers, the Minister added.

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