Government kitty has swelled by Rs 12,591 crore with the sale of three mines to Hindalco, Jindal Power and Indrajit Power on March 8, the third day of the second tranche of coal block auctions. Amid stiff competition from bidders, Hindalco Industries won Dumri mine in Jharkhand, Jindal Power grabbed Tara block in Chhattisgarh and Indrajit Power clinched Nerad Malegaon block in Maharashtra.
With the three blocks, the government stands to garner over Rs 1.43 lakh crore, including over Rs 1 lakh crore from the auction of 19 blocks in the first tranche. Three more coal blocks will be put up for auction when the bidding starts tomorrow. The amount of proceeds has been calculated based on extractable reserves and highest bid price. Hindalco Industries has bagged Dumri mine in Jharkhand for an estimated Rs 9,809 crore, while Jindal Power won Tara block in Chhattisgarh for Rs 2,103 crore.
With the three blocks, the government stands to garner over Rs 1.43 lakh crore, including over Rs 1 lakh crore from the auction of 19 blocks in the first tranche. Three more coal blocks will be put up for auction when the bidding starts tomorrow. The amount of proceeds has been calculated based on extractable reserves and highest bid price. Hindalco Industries has bagged Dumri mine in Jharkhand for an estimated Rs 9,809 crore, while Jindal Power won Tara block in Chhattisgarh for Rs 2,103 crore.
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