The Union Cabinet has approved re-promulgation of coal ordinance and necessary guidelines for the coal mine bidding and allocations.
Coal rich states would benefited from the e-auction of these coal blocks as state can get upto Rs. 7 lakh crore over next 30 years.
The Union Coal and Power Minister, Piyush Goyal has launched a portal for the e-auction of the 24 coal blocks in the first tranche – www.mstcecommerce.com/auctionhome/coalblock.
According to a statement issued by the government, only 50 per cent of the qualified bidder from technical stage (subject to a minimum of 5 bidders) would be allowed to participate in the e-auction process for the 24 coal blocks.