NEW DELHI (Commodity Online): In order to bring more transparency in the allocation of coal blocks, competitive bidding of the coal mines will be introduced by India by the year end. Process of identification of coal blocks going for bidding in the first round has been almost completed and guidelines for this purpose will be finalized very soon.
This was stated by the Minister of Coal, Sriprakash Jaiswal on Monday in a meeting held with all the stakeholders to discuss the guidelines and to give them final shape.
The meeting was called to finalise the terms and conditions of allocation of blocks through competitive bidding and to suggest the optimal structure, which would meet the requirement of all the stakeholders.
The meeting was attended by representatives of industries, State Governments and various central ministries. The meeting discussed various options proposed for bidding process.
On the occasion Jaiswal expressed concern over slow progress in mining operations in some of the coal blocks.
He said 216 blocks with geological reserve of 50 million tonnes allocated to various public and private companies can contribute valuable coal resources but progress in most of the blocks is not encouraging.
In most of the cases, State Governments had to play a key role to facilitate land acquisition, environmental clearance including NOC from local Panchayats and grant of mining lease, he added.
Jaiswal urged the state governments to set up a coordination committee at the State level under the chairmanship of Chief Secretary to review the progress of allocated coal blocks. He assured all possible assurance from the Centre in this regard.
