E-auction dates for commercial mining of coal should be extended again: Source

E-auction dates for commercial mining of coal should be extended again: Source

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Kolkata: Due to disruption due to Kovid-19 epidemic, the date of submission of bids for online auction of coal blocks for commercial mining can be extended further.
The center had earlier extended the dates for submission of technical bids.
As per the revised schedule, the deadline for submission of technical bids is 2 pm on September 29, and e-auctions will be conducted for qualified bidders from October 19 to November 9.
However, sources said that keeping in view the Kovid-19 restrictions on travel and movement, further expansion may be sought by investors.
According to a large official, “We are not sure whether this extension will be sufficient for bidders to complete the evaluation and feasibility study.” The corporate bidder told PTI.
Sources said that bidders need at least 45 days to conduct site visits, technical and geological assessment and estimate rehabilitation costs.
Corporates, including the Federation of Indian Mineral Industries, had urged the government to put forward the dates for the e-auction process, so that a new schedule could be prepared.
On June 18, Prime Minister Narendra Modi began the auction process for 41 coal blocks for commercial mining, a move that opened up India’s coal sector to private players, and gave it a big push towards achieving India’s self-sufficiency. Dubbed the move.

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