For three coal mines put up for auction in the second attempt of the seventh round, the Ministry of Coal signed development and production agreements on Monday. These mines are anticipated to generate an investment of Rs 4,500 crore.
The Machhakata coal mine, Kudanali Lubri coal mine, and Sakhigopal-B Kakurhi coal mine are the mines for which agreements were signed. The Coal Ministry stated that one of these mines is fully explored, but the other two are only partially so.
NLC India Limited, Tamil Nadu Generation and Distribution Corporation Limited, and Gujarat Mineral Development Corporation Limited are the successful bids, in that order.
Based on output at a combined peak rate capacity of about 30.00 MTPA, the expected yearly revenue collection under commercial auction from these three mines is about Rs 2,991.20 crore. It is anticipated that these mines will provide about 40,560 direct and indirect employment once they are operating.
“This initiative is a major step towards the coal sector’s goal of Atmanirbharta, or self-reliance. It will help boost the economy, create jobs, and guarantee the country’s energy security,” the Coal Ministry stated.
