BHUBANESWAR: Four coal blocks of Odisha were among the 10 blocks auctioned for commercial use with Yazdani Steel and Power bagging Bankui coal mine which has a geological reserve of 800 MT. In the latest auction under 13th tranche of Coal Mines (Special Provisions) Act and third tranche of Mines and Minerals (Development and Regulation) Act, Jindal Steel and Power won Utkal-C coal mine while Hindalco Industries made the highest bid for Meenakshi mine in the State.
Mahanadi Mines and Minerals Pvt Ltd emerged as the highest bidder for Bijahan coal block - having a geological reserve of 327 MT - with its final offer of 14 percent over the reserve price.
The annual revenue projected from three coal blocks (except Bankuni) based on the cumulative peak rated capacity (PRC) is Rs 2,228.57 crore. With an estimated capital investment of Rs 3,094.5 crore, the three coal blocks will generate employment for 27,892 people.