NTPC, Hindalco Industries, and Bajrang Power & Ispat Secure Coal Mines in seventh Round of Auctions
TFP Bureau New Delhi; Aug 3, 2023: In a significant development, NTPC, Hindalco Industries, and Bajrang Power & Ispat have emerged as winners in the seventh round of coal mine auctions, as officially announced by the Ministry of Coal on Wednesday.
NTPC Limited, a prominent player in the power generation sector, secured the Uttar Dhadu (Eastern part) coal block in Jharkhand, boasting a massive reserve of 439 million tonnes of coal. Similarly, Hindalco Industries, a major aluminum producer, successfully acquired the Meenakshi West block in Odisha, with an impressive reserve of approximately 950 million tonnes of coal. Bajrang Power & Ispat Limited, on the other hand, clinched a significant deal by obtaining the Pathora East Coal Block in Madhya Pradesh, which holds a substantial reserve of around 110.4 million tonnes of coal.
The Ministry of Coal estimates that these coal mines, upon reaching operational capacity, are poised to generate annual revenue of approximately Rs 450 crore. Moreover, the mines are expected to attract a total investment of Rs 600 crore and open up employment opportunities for about 5,408 individuals.
The recent auction, conducted by the government, marks the seventh round of coal block allocation, as part of the nation’s efforts to capitalize on its abundant coal reserves to meet the surging energy demands and foster economic growth. This initiative not only strengthens the energy sector but also lays the foundation for India’s industrial and economic progress in the future.
