Bhubaneswar: Hindalco Industries Limited, a flagship company of Aditya Birla Group has bagged the Meenakshi West coal block, which has a reserve of 950 MT.
According to sources three bidders were there to grab the Meenakshi West coal block in Sundergarh district, of which Hindalco emerged as highest bidder.
Meenakshi West is a partially explored coal block located in Ib Valley in Sundergarh district.
The Ministry of Coal had launched the auction of coal mines for commercial mining under the 7th round and second attempt of the 6th round on March 29, 2023.
After evaluation of bids, forward e-auctions for six mines were commenced from August 1, 2023. On the second day, three coal mines including Meenakshi West were put up for auction of which one was CMSP coal mine and two mines were MMDR coal mines.
One mine is fully explored and the other two are partially explored mines. The total geological reserves for three coal mines comes to 1,499.40 Million Tonnes (MT). The cumulative peak rate capacity PRC for these coal mines is 4 MTPA.
Upon operationalization, these coal mines will generate annual revenue of Rs. 450 crores calculated at PRC of these coal mines (excluding Partially Explored coal mines). These mines will attract capital investment of Rs. 600 crores and will provide employment to 5,408 people.
