Coal auction: Govt gets 176 technical bids for 23 mines

The government on Tuesday received 176 bids in the first phase for 23 coal blocks to be e-auctioned next week.

It is learnt that all major power and steel utilties have bid for these blocks of which 176 bids were received. These mines are part of the 214 coal blocks in September last year after holding their allocation as illegal and arbitrary. The tender process for these 23 functional coal mines began on December 27 last year and the blocks are being auctioned in two phases.

The first phase is technical bids followed by financial bids.

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“The electronic bids were decrypted and opened electronically in the presence of bidders. The entire process was displayed on the screen for the bidders. Subsequently, sealed envelopes containing bank guarantee, power of attorney and affidavit were also opened in the presence of bidders,” an official statement said.