Amelia North is in Madhya Pradesh and has a reserve of 70.28 million tonne. This is meant for the power sector and there are 11 qualified bidders for this, which include some of the major power players.
After successfully auctioning off eight coal blocks over the last three days, the government puts three more coal blocks up for auction today – Ardhagram, Chotia and Amelia North blocks are up for auction on day four.
Amelia North is in Madhya Pradesh and has a reserve of 70.28 million tonne. This is meant for the power sector and there are 11 qualified bidders for this, which include some of the major power players like Adani Power, BALCO, Essar Power, GMR, GVK Power, JP Power Ventures, JSW Energy, KSK Mahanadi Power, Jindal Power amongst others.
The second is Ardhagram coal block which is in West Bengal and is meant for steel, cement and iron sector. There are seven qualified bidders and these include Monnet Ispat, Visa Steel, OCL Iron & Steel amongst others.
The third coal block up for auction today is Chotia coal block which is in Chhattisgarh and has a reserve of about 25 million tonne. This coal block has received 11 technically qualified bids. Companies that are in the race for this coal block are BALCO, Hindalco , Prakash Industries, Rungta Mines, Sterlite, UltraTech Cement, Trimula Industries amongst other. These are the three coal blocks which are up for auction and at 11 o’clock the auction will begin..
The response from bidders depends because the government will now open up the financial bids of all these technical bidders and the highest bid which will come for steel, cement and iron sector, the floor price on which these bidders will have to do a forward bidding. For power there will be a reverse bidding on the lowest financial bid received. So, on those floor prices there will be a reverse bidding for power coal block and forward bidding for the steel coal block.