Team News Riveting
New Delhi, November 5
Chowgule and Company Private Limited emerged as the highest bidder for a coal block in Sahapur East in Madhya Pradesh.
On the fourth day of auction of coal blocks for commercial mining on Thursday, Fairmine Carbons Private Limited bagged the Rajhara North (central and eastern) coal block in Jharkhand.
Two coal mines (1 in Madhya Pradesh and 1 in Jharkhand) were put up for auction on Day 4 of Commercial Coal Mine Auction. The total geological reserves of the mines put up for auction are 83.63 million tonne (MT) with a cumulative peak rated capacity (PRC) of 1.4 MTPA.
The e-auction witnessed strong competition amongst the bidders with both the mines attracting good premiums over the floor price, a statement issued by the coal ministry said.
Chowgule and Company Private Limited (CCPL) is a part of the Chowgule Group, one of India’s prominent industrial conglomerates. Ranging from mining, shipbuilding to construction chemicals and automobile dealerships, we have a strong foothold in a variety of sectors.
The Sahapur coal block has a reserve of 63.36 MT.
The Annual Revenue Generated from both the blocks based on PRC of mine would be Rs 261.65 crore.
