Rungta Sons, GMDC Bag Two Coal Mines In Odisha Under E-Auction

Representative

Bhubaneswar: Rungta Sons Private Ltd and Gujarat Mineral Development Corporation (GMDC) emerged as the successful bidders for Sakhigopal B Kankili and Baitarni West coal mines respectively, situated in Odisha.

The Ministry of Coal auctioned these two mines on Tuesday.

While the total geological reserves comes to 1,652 million tonnes, the auction is likely to attract capital investment of Rs 2,250 crore, an official release said on Tuesday.

The Ministry had launched the auctions of coal mines for commercial mining under 6^th round and second attempt of 5^th round on November 3, 2022. Forward auctions for these mines was started on February 27 and on the 8th day of the e-auction, the two coal mines were put up for auction.

One of the two mines is a CMSP coal mine and the other is a MMDR coal mine, it said.

The two coal mines upon operationalisation will generate annual revenue of Rs 2,873 crore (excluding Partially Explored Sakhigopal B Kankili coal mine) calculated at PRC of the coal mine. These mines will attract capital investment of Rs 2,250 crore and will provide employment to 20,280 people, the release added.