The Centre on Thursday approved allocation of five coal blocks, including two to Birla Corporation and one to Vedanta, and said the mines will generate a revenue of Rs 17,136 crore for the government. For the first time, the successful bidders shall have the flexibility to sell 25 per cent of the coal produce in open market. “The ministry of coal, after a long gap of four years, has approved the allocation of five coal mines,” the Coal Ministry said in a statement.
This was the result of the auction conducted by the Centre last month. The ministry had initiated the auction process for 27 coal mines for non-regulated sectors previously. Of the five mines, two were allocated to Birla Corporation Ltd and one each to Vedanta Ltd, Prakash Industries Ltd and Powerplus Traders Pvt Ltd.
