Only one bid received out of four coal mines put up for 2nd attempt of public sale: Coal Minister
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In the occasion, the ECoS decides that the coal mine shall be allotted to the certified bidder, it shall be declared as the popular bidder.
Only one bid has been received out of four coal mines that have been put up for second attempt of public sale below the eleventh spherical of Coal Mines (Special Provisions) Act (CMSP Act), Parliament was knowledgeable on Wednesday.
The technical bid for the Kuraloi (A) North mine in Odisha was received from Vedanta Ltd and an Empowered Committee of Secretaries (ECoS) will take a ultimate name on it, Coal and Mines Minister Pralhad Joshi informed Lok Sabha in a written reply.
“Out of four coal mines put up for second attempt of auction under 11th Tranche of CMSP Act & 1st Tranche of MMDR (Mines and Minerals Development and Regulation) Act, only one mine namely Kuraloi (A) North mine in Odisha has received one technical bid from M/s Vedanta Limited,” Mr. Joshi mentioned.
The Minister mentioned as per the provisions, in case there may be solely one technically certified bidder, such bidder shall be the certified bidder.
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“….the Initial Offer submitted by the Technically Qualified Bidder shall be considered as the Final Offer submitted by the Qualified Bidder and the matter will be referred to Empowered Committee of Secretaries (ECoS) for appropriate decision with respect to allocation of the Coal Mine,” he mentioned.
In the occasion, the ECoS decides that the coal mine shall be allotted to the certified bidder, it shall be declared as the popular bidder.
“However, within the occasion the ECoS decides that the Coal Mine shall not be allotted to the Qualified Bidder, the tender course of for the Coal Mine shall stand annulled.”
Accordingly, the matter was referred to ECoS and a gathering of ECoS was held on March 4, 2021, Mr. Joshi mentioned.
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