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Chowgule and Company Pvt. Ltd. has emerged as the highest bidder for the Sahapur (East) coal mine at the end of the fourth day of the latest tranche of Coal mine auctions conducted by Nominated Authority, Ministry of Coal, Government of India. The Company managed to outbid Aurobindo Reality and Infrastructure Pvt. Ltd., JMS Mining Pvt. Ltd., and Sarda Energy and Minerals Ltd. for the mine.
Chowgule and Company Pvt. Ltd. has emerged as the highest bidder for the Sahapur (East) coal mine at the end of the fourth day of the latest tranche of Coal mine auctions conducted by Nominated Authority, Ministry of Coal, Government of India. The Company managed to outbid Aurobindo Reality and Infrastructure Pvt. Ltd., JMS Mining Pvt. Ltd., and Sarda Energy and Minerals Ltd. for the mine.
The auction for the Rajhara North (Central and Eastern) coal mine was also conducted on the same day. The mines together reportedly have a geological reserve of 83.63 million tonnes of coal. In May 2020, the Cabinet Committee on Economic Affairs had decided to award coal and lignite blocks on a revenue-sharing basis. Pursuant to Rule 10(9) of the Coal Mines (Special Provisions) Rules, 2014 and Rule 5(7) Coal Blocks Allocation Rules, 2017, the allocation of the block will now be forwarded to the Central Government for approval as per the Notice Inviting Tender dated 18 June 2020.