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Commercial auction of coal mines: Technical bids for tranche-2 to open on July 9

The Ministry of Coal has announced that technical bids for tranche-2 of commercial coal mine auction will open on July 9

Commercial auction of coal mines: Technical bids for tranche-2 to open on July 9
Commercial auction of coal mines: Technical bids for tranche-2 to open on July 9
  • Bidders are allowed to attend the bidding process in person
  • The technical bid opening process will be held in two parts

New Delhi: The Ministry of Coal has announced that technical bids for tranche-2 of commercial coal mine auction will open on July 9. In a notification released on Wednesday, the ministry said, “The Technical Bids of the Bidders of 12th Tranche of auction of Coal Mines under CM(SP) Act, 2015 and 2nd Tranche of auction of Coal Mines under MMDR Act, 1957 will be opened on Friday July 09, 2021 at 1000 hours.” Bidders are allowed to attend the bidding process in person. However, only one representative for each bidder will be allowed to attend. 

“All the Bidders who wish to attend the Technical Bid opening in-person, are advised to submit the copy of authority letter from the Bidder (for each coal mine applied for, as applicable) and any one Government issued identity document, at the time of Bid opening,” the notification added.

Commercial auction of coal mines: Technical bids to be held in 2 parts

The technical bid opening process will be held in two parts — opening of bids submitted online on MSTC portal and opening of bid documents submitted offline at the office of the nominated authority. Opening of bids submitted online on the MSTC portal will commence at 10 am and will be followed by opening of bid documents submitted offline. “Detailed schedule with mine-wise timeslots shall be published on July 08, 2021,” said the ministry. 

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The background

The second tranche auction process was formally launched by Minister of Coal Pralhad Joshi and NITI Aayog CEO Amitabh Kant on March 25. It was followed up with a pre-bid meeting on April 26. Later, the Ministry of Coal also organised a series of two stakeholder consultations under the aegis of FICCI for wider outreach to potential bidders. SBI Capital Markets Limited, a subsidiary of State Bank of India, is the Transaction Advisor to the nominated authority for the auction process.

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