Speed Post News Network
New Delhi : The auction process of 88 coal mines for sale of coal was launched by the Nominated Authority, Ministry of Coal, on October 12, 2021. The last date of submission of Technical Bid was December 14, 2021. As part of the auction process, Technical Bids comprising online and offline bid documents were opened here on December 15, 2021, in the presence of the bidders.
The online bids were decrypted and opened electronically in the presence of the bidders. Subsequently, sealed envelopes containing offline bid documents were also opened in the presence of bidders. Entire process was displayed on the screen for the bidders. A total of 53 bids have been received for 20 coal mines of which 16 are fully explored mines and 4 are partially explored mines. Two of these mines are coking coal mines and the remaining 18 mines are non-coking coal mines. Two or more bids have been received for 10 coal mines, according to a PIB release.
A total of 37 companies have submitted their bids both offline and online in the auction process. The bids will be evaluated by a multi-disciplinary Technical Evaluation Committee and Technically Qualified Bidders would be shortlisted for participation in the electronic auction to be conducted on MSTC portal from January 7, 2022, according to a PIB release.