Coal blocks to offer livelihood to backward regions in the country; biggest offer of coal blocks till now: Additional Secretary, Ministry of Coal

Coal blocks to offer livelihood to backward regions in the country; biggest offer of coal blocks till now: Additional Secretary, Ministry of Coal

Mr M Nagaraju, Additional Secretary & Nominated Authority, Ministry of Coal, Govt of India, today said that this time the government is offering 67 coal blocks and it's going to be the largest deal in the nation until today. "Out of those 67 coal blocks, 6 are coking coal blocks, 61 are non-coking coal blocks, 30 are partly researched and 37 are totally explored coal blocks. We're auctioning 36 billion tonnes of reserves at the end of the month and hoping quite great answer from the industry equally on coking and non-coking coal blocks. This may also reduce India's dependence on imports," he added.

Addressing the virtual '2nd Stakeholders' Consultation on 2nd Tranche of Auction of Coal Mines for Commercial Mining,''' organized by the Ministry of Coal, Govt of India jointly with FICCI since the Industry Partner, Mr Nagaraju stated,"Regardless of the pandemic, the answer from the sector so far has been really good.  It's necessary for the nation and us to make sure that the natural resources available in the nation are fully stripped and utilised. The majority of the reserves are situated in the backward areas of India and also the growth of those coal blocks will offer those people with great livelihood."

Mr Nagaraju additionally said that this is the ideal time for people to extract the coal available in the nation. "We're working with the private sector to boost this business. The entire process is quite transparent, and the National Coal Index catches the market prices of coal from the nation," he emphasized.

Determined by the actions taken by the government to enhance the business, Mr Nagaraju stated that the government has already setup PMU unit, established single window system to get acceptance of mines plan, integration using'Parivesh' portal site of MoEF&CC and can be closely monitoring operationalisation of coal mines. "The Government will be standing together with the industry in each measure," he mentioned.

Mr Vinod Kumar Tiwari, Additional Secretary, Ministry of Coal, Govt of India explained that the ministry has made enormous efforts to shortlist coal blocks for its auctions and have appeared on simplicity of concessions and ancient operationalization among the factors.

"The Ministry has also altered the method of ensuring better participation, and it has provided irrigation blocks that are ecologically and economically sustainable," additional Mr Tiwari.

Highlighting that the most appealing coal blocks are available, he said that the investments in coal mines will be completely secure and costs of coal will continue to keep appealing as a result of massive demand for coal. "This really is the ideal time to make investments and reserve gains in another 20-30 decades," additional Mr Tiwari.

Mr Dilip Chenoy, Secretary General, FICCI said that the opening from the coal industry will aid in fulfilling the Government's Aatmanirbhar Bharat Abhiyaan, also will help many economic sectors, particularly electricity, aluminium and steel.

The stakeholders consultation was likewise attended by Mr Bhabani Prasad Pati, Joint Secretary, Ministry of Coal; Ms Santosh, Deputy Director General, Ministry of Coal; Mr Manoj Kumar, CMD, CMPDIL & WCL; Mr Anandji Prasad, GM, CMPDIL and representatives from SBICAPS.

Following the achievement of the 1st tranche and favorable response obtained from the market, 19 mines were successfully auctioned from the first round of commercial coal mining auctions. Moving ahead, Government has invited bids from the qualified bidders to take part in the 2nd tranche of auctions of commercial coal mines.