Coal Ministry auctions two mines of Odisha on March 7

New Delhi: On the 8th day of e-auction, two coal mines were put up for auction. Out of the two mines, one was from the CMSP coal block and another was from the MMDR coal block, said the Ministry of Coal in a statement. "The Sakhigopal B Kankili belonging from the MMDR block is a partially explored coal mine with geographical reserves of 500 MT while the Baitarni West from the CMSP block is a fully explored coal mine with geographical reserves of 1,152.11 MT and PRC of 15 MTPA," said the statement.

GMDC wins the auction for Baitarni West coal mine

"On one hand, the Sakhigopal B Kankili coal mine was auctioned off to Rungta Sons Private Limited at 6.5 percent final offer price. On the other hand, the Baitarni West coal mine was auctioned off to Gujarat Mineral Development Corporation Ltd (GMDC) at final price of 33.5 percent," the statement added.

Coal mines to generate annual revenue of Rs 2,873 cr

"These coal mines upon operationalisation will generate annual revenue of approximately Rs 2,873 crores (excluding, partially explored Sakhigopal B Kankili coal mine) calculated at PRC of the coal mine.  These mines will attract capital investment of approximately Rs 2,250 crores and will provide employment to approximately 20,280 people," the statement added.

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