No financial and technical yardstick for coal auctions
NEW DELHI: India’s upcoming coal auctions will have no financial or technical qualification criteria for bidders, easing entry for interested firms, but will impose penalties strict enough to prevent companies from squatting on mines.
“The coal ministry has decided against keeping any entry restrictions based on technical or financial criteria, which means there are not likely to be any net worth requirement for firms. The government will incentivise expeditious coal production by firms than restricting entry to ensure serious players,” a senior coal ministry official said.
