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According to foreign media news, due to the disruption caused by the COVID-19 pandemic, the online bidding date for commercial mining of coal mines has been postponed
again.
According to the timetable previously extended by the Central Power Authority of India, the bidding deadline was extended to 2pm
on September 29.
According to the revised schedule, the Central Electricity Authority of India will conduct an electronic auction
of eligible bidders between October 19 and November 9.
However, Reuters quoted sources as saying investors may seek further expansion
given COVID-19 restrictions on travel and travel.
"We are uncertain whether this extension will be sufficient to enable bidders to complete assessments and feasibility studies, which must be conducted
using rigorous on-site data and inputs.
New extensions will be sought if needed," one large corporate executive said
in an interview.
It is understood that bidders will need at least 45 days to conduct site visits, technical and geological assessments, and estimate the cost of
placement.
Companies and industry bodies, including the Indian Federation of Mineral Industry, have urged the government to postpone the date of the electronic auction process so that a new timetable
can be established.
Prime Minister Naron Modi on June 18 launched an auction process for 41 coal blocks for commercial mining, a move that opened India's coal sector to private companies and called it an important step
towards self-sufficiency.
According to foreign media news, due to the disruption caused by the COVID-19 pandemic, the online bidding date for commercial mining of coal mines has been postponed
again.
According to the timetable previously extended by the Central Power Authority of India, the bidding deadline was extended to 2pm
on September 29.
According to the revised schedule, the Central Electricity Authority of India will conduct an electronic auction
of eligible bidders between October 19 and November 9.
However, Reuters quoted sources as saying investors may seek further expansion
given COVID-19 restrictions on travel and travel.
"We are uncertain whether this extension will be sufficient to enable bidders to complete assessments and feasibility studies, which must be conducted
using rigorous on-site data and inputs.
New extensions will be sought if needed," one large corporate executive said
in an interview.
It is understood that bidders will need at least 45 days to conduct site visits, technical and geological assessments, and estimate the cost of
placement.
Companies and industry bodies, including the Indian Federation of Mineral Industry, have urged the government to postpone the date of the electronic auction process so that a new timetable
can be established.
Prime Minister Naron Modi on June 18 launched an auction process for 41 coal blocks for commercial mining, a move that opened India's coal sector to private companies and called it an important step
towards self-sufficiency.
