DVC, six other firms bag coal blocks in 12th round of commercial mines auction

New Delhi: Damodar Valley Corporation (DVC) and Orissa Alloy Steel Pvt Ltd are among the seven companies that have bagged coal blocks in the 12th round of commercial mines auction, an official statement said on Friday.

The government had launched the 12th round of coal block auctions in March, seeking bids for the seven blocks that hold a combined geological reserve of around 1,761.49 million tonnes.

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The cumulative Peak Rated Capacity (PRC) of these blocks stands at 5.25 million tonnes per annum (MTPA), excluding partially explored coal blocks.

The auctions witnessed intense competition, achieving an average revenue share of 26.70 per cent.

"This reflects the sustained interest of industries in the coal sector and the ministry's efforts to provide a stable and transparent policy framework," the coal ministry said in a statement.

These blocks are expected to generate an annual revenue of Rs 719.90 crore, (excluding partially explored blocks), likely to attract a capital investment of around Rs 787.50 crore, and create 7,098 employment opportunities.

Since the inception of commercial coal mining in 2020, a total of 131 coal blocks have been auctioned, with a production capacity of 277.31 million tonnes per year.

Upon operationalisation, these blocks will immensely contribute to enhance domestic coal production and in making country self-reliant in coal sector. Collectively, these blocks are expected to generate an annual revenue of Rs 39,359 crore, capital investment of Rs 41,597 crore and provide employment for 3,74,916 people in coal-bearing regions.

These strategic initiatives of the Ministry of Coal reaffirm the the Centre's dedication to transforming the coal sector into a key driver of economic growth. These initiatives not only address the nation's energy demands but also foster economic stability and create employment opportunities, contributing to the vision of an 'Atmanirbhar Bharat', the statement said.

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