On day 1 of coal bids, government nets Rs 2,529 crore

New Delhi: The first day of third tranche of coal mines' auctions on Tuesday saw the government garnering a total of Rs 2,529 crore from bidding of two blocks in Chhattisgarh and Maharashtra. Crest Steel and Power
on day 1 of coal bids government nets rs 2 529...
PTI August 12, 2015 10:08 IST

New Delhi: The first day of third tranche of coal mines' auctions on Tuesday saw the government garnering a total of Rs 2,529 crore from bidding of two blocks in Chhattisgarh and Maharashtra. 

Crest Steel and Power Pvt Ltd, a Topworth Group entity, emerged as the highest bidder for Bhaskarpara mine in Chhattisgarh which will fetch the government Rs 1,817 crore. Companies like JSPL were there in the race for the mine. 

The group's arm Topworth Urja & Metals Ltd emerged as the highest bidder for Marki Mangli-I mine in Maharashtra, which is set to add Rs 712 crore to the government coffers. "Crest Steel and Power was the highest bidder for Bhaskarpara coal block at Rs 755 (a tonne)," coal secretary Anil Swarup said.

Related Tags: Coal MineAuctionJSPL

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