The first phase of auction of coal blocks for commercial use witnessed conservative bidding from industry players due to the type of blocks on offer and potential issues around land acquisitions and forest clearances, according to experts. Auctions of 18 coal blocks for commercial use have been completed, with experts noting that the revenue share offered by bidders was lower than expected.
The government is set to announce the results on November 11. It had, in June, announced that coal blocks would be auctioned for commercial use, as part of the Aatmanirbhar Bharat package, with the aim to reduce coal import and increasing job opportunities in coal-bearing areas.
