Govt to Decide Fate of Iron Ore Block Bidders on Feb 25

Published: 16th February 2016 06:26 AM  |   Last Updated: 16th February 2016 06:26 AM   |  A+A-

BHUBANESWAR: The State Government on Monday said the names of qualified bidders for Ghorhaburhani-Sagasahi iron ore block will be announced on February 25.

The technical committee of the State Government evaluated the bids submitted by seven steel making companies for the iron ore block which was opened on February 11.

The seven steel makers which participated in the bidding process include Rashtriya Ispat Nigam Ltd (RINL), a public sector company. The other bidders are Tata Steel, Jindal Steel and Power Ltd (JSPL), JSW Steel, Bhushan Steel, Bhushan Power and Steel Ltd and Essar Steel, official sources said. “We will announce the names of successful bidders on February 25,” Director of Mines Deepak Mohanty told reporters.

The Ghorhaburhani-Sagasahi iron ore block having deposits of 99.5 million tonne is located in Koida mining circle of Sundargarh district.

The Ghoraburanhani-Sagasahi East Iron Ore block is of 2.435 sq km with a reserve of 116.16 million tonne iron ore. The iron ore block will be offered in the form of a composite licence - prospecting licence (PL)-cum-mining licence (ML), he said.

In the second round of the e-auction, qualified bidders will submit their final price offers. The offered price should be greater than the floor price. The e-auction process would be cancelled if none of the qualified bidders submits final price offers.

The qualified bidder, who submits the highest final price offer, will be declared the preferred bidder. The State Government will issue a letter of intent (LoI) to the successful bidder by March 28.

While financial bids are invited in digital format only, technical bids are invited both in digital and physical format from eligible bidders.


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