New Delhi [India], The Coal Ministry led by Union Minister G Kishan Reddy is set to launch the 10th round of commercial coal block auction next week.
According to the press release, the initiative is in line with Prime Minister Narendra Modi's vision of achieving energy independence by 2047 and promoting "self-reliance" (self-reliance) in the coal sector.
About 62 coal blocks are expected to be offered in the upcoming auction round, with no restrictions on end use.
This move allows allottees to sell the coal produced from these blocks in the free market, thereby promoting a competitive environment and ensuring better utilization of coal resources.
G Kishan Reddy stressed the need for complete transparency and revenue maximization in this auction process.The commercial coal block auction was initially launched by Prime Minister Narendra Modi in June 2020, marking a paradigm shift in the coal sector. The press release said it shifted from a restricted-use model to a commercial mining framework, opening up the sector to private entities and promoting competition.
During the last nine rounds, the Coal Ministry successfully auctioned 107 coal blocks with a combined peak-rated capacity of 256 million tonnes (MT).
These efforts are important in meeting the country's growing energy demands and reducing dependence on coal imports.
Since commercial coal mining began, 11 coal blocks have become operational.Production from these commercial blocks has been steadily increasing, with 17.5 metric tonnes of coal produced last year alone.
This production increase is important to ensure stable and adequate coal supply to various industries across the country, thereby contributing significantly to the national economy.
To further enhance the auction process, the Coal Ministry has developed a comprehensive coal block portal integrated with the PM Gatishakti National Master Plan.
The portal provides detailed visibility of geographical features to potential bidders, facilitating an informed and transparent bidding process, the release said.
The PM Gatishakti initiative aims to boost logistics efficiency and support seamless movement of goods, thereby improving overall economic productivity.The new round of coal block auction is expected to attract a wide range of bidders, including both established and emerging players in the energy sector.
The open market sales policy is expected to lead to more competitive pricing and better resource management.
Furthermore, this initiative is a step towards realizing the government's commitment to achieve energy independence and reduce carbon emissions through efficient use of coal.
The proactive approach of the Coal Ministry in launching successive rounds of coal block auctions underlines its commitment to reform the sector and enhance its contribution to the energy matrix of the country.
With continued support and reforms, the coal sector is set to play a key role in India's journey towards sustainable energy and economic growth.
According to the press release, the initiative is in line with Prime Minister Narendra Modi's vision of achieving energy independence by 2047 and promoting "self-reliance" (self-reliance) in the coal sector.
About 62 coal blocks are expected to be offered in the upcoming auction round, with no restrictions on end use.
This move allows allottees to sell the coal produced from these blocks in the free market, thereby promoting a competitive environment and ensuring better utilization of coal resources.
G Kishan Reddy stressed the need for complete transparency and revenue maximization in this auction process.The commercial coal block auction was initially launched by Prime Minister Narendra Modi in June 2020, marking a paradigm shift in the coal sector. The press release said it shifted from a restricted-use model to a commercial mining framework, opening up the sector to private entities and promoting competition.
During the last nine rounds, the Coal Ministry successfully auctioned 107 coal blocks with a combined peak-rated capacity of 256 million tonnes (MT).
These efforts are important in meeting the country's growing energy demands and reducing dependence on coal imports.
Since commercial coal mining began, 11 coal blocks have become operational.Production from these commercial blocks has been steadily increasing, with 17.5 metric tonnes of coal produced last year alone.
This production increase is important to ensure stable and adequate coal supply to various industries across the country, thereby contributing significantly to the national economy.
To further enhance the auction process, the Coal Ministry has developed a comprehensive coal block portal integrated with the PM Gatishakti National Master Plan.
The portal provides detailed visibility of geographical features to potential bidders, facilitating an informed and transparent bidding process, the release said.
The PM Gatishakti initiative aims to boost logistics efficiency and support seamless movement of goods, thereby improving overall economic productivity.The new round of coal block auction is expected to attract a wide range of bidders, including both established and emerging players in the energy sector.
The open market sales policy is expected to lead to more competitive pricing and better resource management.
Furthermore, this initiative is a step towards realizing the government's commitment to achieve energy independence and reduce carbon emissions through efficient use of coal.
The proactive approach of the Coal Ministry in launching successive rounds of coal block auctions underlines its commitment to reform the sector and enhance its contribution to the energy matrix of the country.
With continued support and reforms, the coal sector is set to play a key role in India's journey towards sustainable energy and economic growth.
