Govt re-examining 4 coal blocks auctioned in first phase

The government is re-examining auction of coal blocks, bagged by Balco, JSPL and BS Ispat, on some complaints including bidding price, sources said.

“Four coal blocks–Gare Palma IV 2, Gare Palma IV 3, Gare Palma IV-1 and Marki Mangli III– are being re-examined by the nominated authority as there were some complaints pertaining to mines, including bidding price,” a highly place source said.

The government had recently auctioned 19 coal blocks.

The second round of auction of 21 coal blocks has, however, been put off to March 4. The auction of mines in the second tranche was earlier scheduled to begin from February 25.

Jindal Steel and Power (JSPL) was the successful bidder for Gare Palma IV 2 and Gare Palma IV 3 mines, while Balco successfully bid Gare Palma IV/1 mine and BS Ispat bagged Marki Mangli III mine.

Stating that auction of coal mines is one of the top three achievements of the government in its nine-month period, Finance Minister Arun Jaitley had said in his budget speech that the process would bring several lakhs of crores of rupees to the kitty of coal-bearing states.