Coal mines auction: 14th round draws 49 bids

New Delhi, Dec 23 (PTI) As many as 49 bids were received in the 14th round of commercial coal mines auction, highlighting growing investor interest and advancement in energy security.

The move could ramp up coal production, bolster domestic supply, and potentially reduce the dependence on imports.

The bids were received for 24 coal blocks out of the 41 blocks offered for sale in this round.

"Under this round, 49 bids have been received against 24 coal blocks out of 41 coal blocks," the coal ministry said in a statement.

A total of 11 companies participated in the auction process, including five new entrants bidding for the first time under the commercial coal mining regime.

The entry of new companies into commercial coal block auctions signals increasing trust in the policy framework and the broadening prospects in India's coal sector.

The coal industry continues to fuel economic growth as the country pushes toward becoming the third-largest economy in the world.

A multi-disciplinary technical evaluation panel will now assess the bids, shortlisting technically qualified bidders for the electronic auction on the MSTC portal. PTI SID ANU ANU