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India's coal ministry said the government was opening up bidding after canceling two coal mine auctions and planned to sell 19 mines
in the second quarter.
India to restart coal mine auctions It plans to sell 19 in the second quarter
Last year, the government withdrew the fifth round of auctions
due to poor response from bidders.
"We want to do the next round of coal auctions
.
Now is the right time
.
India's coal minister, Susheel Kumar, said, "So there will be coal auctions
this quarter.
" ”
Of the 19 coal mines auctioned, 6 were identified for the steel industry and the remaining 13 for non-regulated industries
such as cement, sponge iron and captive electricity.
In order to attract more bidders and make the next round of auctions successful, the Ministry of Coal is also considering offering some lenient conditions, but with sufficient transparency and competitiveness
.
Kumar said: "We are just thinking about what conditions to relax so that this round of auctions can be successful, but obviously there needs to be enough competitiveness and transparency, these are the principles
that cannot be changed.
" So if we can relax some of the conditions so that more bidders participate, that's what we're
exploring.
”
The fifth round of coal mine auctions was cancelled
last year because it did not receive a good response from bidders due to poor conditions in the steel industry.
In December 2015, in addition to falling commodity prices and unfavorable market conditions, the government had cancelled the fourth round of coal mine auctions
planned for January 2016 due to lukewarm responses from bidders in industries such as steel.
，
India's coal ministry said the government was opening up bidding after canceling two coal mine auctions and planned to sell 19 mines
in the second quarter.
India to restart coal mine auctions It plans to sell 19 in the second quarter
India to restart coal mine auctions It plans to sell 19 in the second quarterLast year, the government withdrew the fifth round of auctions
due to poor response from bidders.
"We want to do the next round of coal auctions
.
Now is the right time
.
India's coal minister, Susheel Kumar, said, "So there will be coal auctions
this quarter.
" ”
Of the 19 coal mines auctioned, 6 were identified for the steel industry and the remaining 13 for non-regulated industries
such as cement, sponge iron and captive electricity.
In order to attract more bidders and make the next round of auctions successful, the Ministry of Coal is also considering offering some lenient conditions, but with sufficient transparency and competitiveness
.
Kumar said: "We are just thinking about what conditions to relax so that this round of auctions can be successful, but obviously there needs to be enough competitiveness and transparency, these are the principles
that cannot be changed.
" So if we can relax some of the conditions so that more bidders participate, that's what we're
exploring.
”
The fifth round of coal mine auctions was cancelled
last year because it did not receive a good response from bidders due to poor conditions in the steel industry.
In December 2015, in addition to falling commodity prices and unfavorable market conditions, the government had cancelled the fourth round of coal mine auctions
planned for January 2016 due to lukewarm responses from bidders in industries such as steel.
，
