New Delhi: The Government is set to organise a roadshow at Porbandar, Gujarat on Saturday to stress on the sale of offshore mineral blocks.
This initiative marks a step towards unlocking the vast undersea mineral wealth within the country's Exclusive Economic Zone (EEZ).
The event will be chaired by Mines Secretary VL Kantha Rao and will be attended by several other dignitaries and industry leaders, the Ministry of Mines said in a statement.
Prominent companies from the mining, cement, and infrastructure sectors are likely to participate in the event.
The roadshow will feature key presentations by SBICAPS, MSTC, and GSI.
SBICAPS will outline the auction process, including timelines, tender conditions, and participation requisites. MSTC will demonstrate the advanced e-auction platform, ensuring seamless and transparent bidding.
The Geological Survey of India will deliver a technical presentation on the mineral potential of the offshore blocks, with particular emphasis on the three blocks identified off Gujarat's coastline.
These lime-mud-rich blocks present significant opportunities for the cement and construction sectors in the state.
To harness the country's offshore mineral wealth, the mines ministry launched its first-ever auction of offshore critical mineral blocks last month.
The auction includes 13 blocks located across the Arabian Sea and the Andaman Sea. These comprise three blocks of construction sand in Kollam, Kerala; three blocks of lime mud in Porbandar, Gujarat; and seven blocks of polymetallic nodules and crusts near Great Nicobar Island.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)