Govt cancels bids of Jindal Steel, Balco : The Tribune India

Join Whatsapp Channel

Coal mines auction

Govt cancels bids of Jindal Steel, Balco

NEW DELHI: The government has cancelled bids of Jindal Steel and Power and BALCO for four coal blocks amid speculation of cartelisation and said it will take a final decision on these mines after deliberations.

Govt cancels bids of Jindal Steel, Balco


New Delhi, March 21

The government has cancelled bids of Jindal Steel and Power and BALCO for four coal blocks amid speculation of cartelisation and said it will take a final decision on these mines after deliberations.

“The department (Coal ministry) will take the final decision on the rejected bids, it will deliberate and then decide,” Coal and Power Minister Piyush Goyal said today.

The Coal Ministry, had late last night, rejected the bids of Jindal Steel and Power Ltd (JSPL) and Balco for four blocks amid reports of speculation of cartelisation during the recent coal block auction.

When asked whether these blocks will be re-auctioned or allotted to Coal India, Goyal said the department will take a call on it.

He was speaking on the sidelines of an event of the Indian Chambers of Commerce.

The government was re-examining the bids for nine coal blocks, including those where Jindal Steel & Power (JSPL) and Balco emerged top bidders in the recently held auction.

“Bids for Gare Palma IV/1, IV/2, IV/3 and Tara coal blocks not accepted,” Coal Secretary Anil Swarup had tweeted last night.

Jindal Power had emerged as successful bidder for Gare IV/2, Gare Palma IV/3 and Tara coal blocks, while Bharat Aluminium Company (Balco) had successfully bid for Gare Palma IV/1 coal block.

However, bids for five other blocks have been accepted, Swarup said.

There had been reports that some bidders could have indulged in cartelisation to keep the prices low for the concerned mines.

“In the schedule II, we were looking at four mines and in schedule III we are looking at five mines ... Prima facie we found that it requires a re-examination, so it has been re-examined that is about all,” Swarup had earlier said.

The bids that were re-examined also included Marki Mangli III block, which was bagged by BS Ispat.

While insisting that the government “has not looked at any such thing as cartelisation or anything of such sort”, the secretary had said: “I have used the word ‘outliers’. There is a pattern and if somebody falls outside that pattern that needs a examination.

“Whether it is a cartelisation or not it not something which I can say as of now. We are certainly not examining these aspects. We are examining if there is an outlier, the reason for it, and then we will take a call”, he had said.

So far, a total of 33 coal blocks have been auctioned in two tranches. While in the first lot 19 coal mines were auctioned, in the second lot 14 coal blocks went under the hammer. — PTI

Top News

AAP releases Swati Maliwal's new video walking out of Arvind Kejriwal's residence

AAP releases new video showing Swati Maliwal walking out of Delhi CM Arvind Kejriwal's residence

In her FIR, Maliwal had alleged that she was assaulted by Bi...

Swati Maliwal has bruises over her left leg and her right cheek, says medical report

Swati Maliwal has bruises over her left leg and her right cheek, says medical report

Medical report says Swati had a bruise of size of 3x2 cm ove...

8 burnt to death as bus carrying devotees from Punjab catches fire near Haryans’a Nuh

9 burnt to death as bus carrying devotees from Punjab catches fire near Tauru in Haryana

Devotees were returning from pilgrimage to Mathura and Vrind...

Amid Swati Maliwal row, AAP MP Raghav Chadha arrives at Delhi CM Arvind Kejriwal’s residence

Amid Swati Maliwal row, AAP MP Raghav Chadha arrives at Delhi CM Arvind Kejriwal’s residence

Chadha, a close aide of CM Kejriwal, had gone to the UK for ...


Cities

View All