16th round of commercial coal mine auctions to be launched on Sept 17
New Delhi, Sept 16 (TNT): The Ministry of Coal will launch the 16th round of commercial coal mine auctions in New Delhi on Thursday.
Union Minister of State for Coal and Mines Satish Chandra Dubey will be the Chief Guest.
Commercial coal mining was launched in 2020. Since then, 147 coal mines have been auctioned through 15 completed rounds, bringing 44 new companies into the sector, according to the Ministry.
The auctioned mines are expected to generate annual revenue of around Rs 47,500 crore, attract capital investment of nearly Rs 55,000 crore and create about 4.9 lakh employment opportunities across coal-bearing states.
The 16th round will offer a fresh set of fully explored and partially explored coal blocks.
The auction framework provides for no end-use restrictions, 100 per cent FDI through the automatic route and low upfront payments adjustable against future revenue share, the Ministry said.
These provisions are aimed at facilitating participation by smaller and first-time bidders as well as established mining companies and technology-driven enterprises.
The commercial coal mine auction programme has contributed to increasing domestic coal production and availability and reducing dependence on imports, in line with the objectives of Aatmanirbhar Bharat.
The Ministry said the latest round is expected to bring additional coal blocks into production, generate employment and attract further investment in the coal sector.
It said the government remains committed to ensuring reliable and affordable energy supplies in line with India’s long-term energy security goals.
TNT KS
