New Delhi: Vedanta Ltd. has bagged the Kuraloi (A) North Coal Mine in Odisha in the auction process launched by the Nominated Authority of union coal ministry.
The Authority has invited fresh biddings for four coal mines including Kuealoi mine those which had received single bid in the first attempt to auction sale of the mines.
The Nominated Authoriy had launched the auction process of 38 coal minesin the first tranche of auction for Sale of Coal for commercial mining. Out of the 38 coal mines, 19 have been successfully auctioned.
And, out of the remaining mines, 4 coal mines which had fetched single bid in the first attempt were put up for re-auction in a second attempt by ministry of coal with the same terms and conditions but with the highest Initial Offer received in the first annulled attempt of auction as the Floor Price for the second attempt. Of these 4 mines under second attempt of auction, one mine Kuraloi (A) Northhad received a bid and has now been successfully auctioned with Vedanta Limited being the successful bidder.
With the successful auction of Kuraloi (A) North coal mine, the total number of mines successfully auctioned in the first tranche of auction for commercial mining is 20 out of total 38 coal mines offered, with a success percentage of ~52.63% for the first tranche.
Kuraloi (A) North located in Odisha with a Peak Rated Capacity of 8 MTPA is the largest mine in terms of PRC of all the mines successfully auctioned in the first tranche. Kuraloi (A) North is expected to generate an annual revenue of ~Rs. 763 crores andalso provide employment to over 10,000 people.