Vedanta, Hindalco post wins in commercial coal auction; new players debut
The first day of the e-auction for awarding coal mines to private companies for commercial mining and sale saw a mix of conglomerates and smaller companies winning coal mines of different capacities. Vedanta Limited grabbed one of the largest mines – Radhikapur (6 million tonne per annum) in Odisha – and Hindalco Industries was the highest bidder for the Chakla mine in Jharkhand.
Adani Enterprises, which was also in the race for these two mines, did not win any.
The highest bid of the day was made by a fairly new entrant Hyderabad-based real estate player Aurobindo Realty and Infra which quoted a 30.75 per cent premium on the revenue share to grab Takli-Jena-Bellora (North and South) mine in Maharashtra.
