Mumbai, April 10 -- After 11 rounds of coal mining auctions, two enterprises-Singhal Business Pvt Ltd. and PRA Nuravi Coal Mining Pvt Ltd.- have emerged as the successful bidders of two coal mines and are now partnering with the Ministry of Coal on several Coal Mine Development and Production Agreements (CMDPAs). Singhal Business has secured the Marwatola-II coal mine, while Nuravi has successfully bid for the Namchik West coal mine.
These agreements are part of a significant step towards enhancing India's energy security, economic growth, and coal production. To begin operations on these mines, a capital investment of approximately Rs 550 million will be required. Both coal mines are expected to generate an estimated annual revenue of Rs 1.0614 billion, based on a total Peak Rated Capacity (PRC) of ~0.34 million tonnes per annum (MTPA). Additionally, the mines are expected to create around 460 direct and indirect job opportunities, contributing to the socio-economic development of their respective regions.
With these additions, a total of 120 coal mines have been auctioned by the Ministry of Coal. The total investment required for these mines is Rs 400 billion, and the projected PRC from these mines is 265.64 MTPA, the estimated annual revenue is Rs 373 billion. Moreover, they will provide employment for nearly 360,000 individuals in the country.
The Coal Ministry has stressed the need for energy independence and reaffirmed its commitment to investor friendly auction practices.
Published by HT Digital Content Services with permission from Construction World.