September 22, 2026 10:17 pm (IST)
Follow us:
Piyush Goyal formally launches portal for e-auction of coal mines
New Delhi, Dec 25 (IBNS): Piyush Goyal, Minister of State ( IC) for Power, Coal & New and Renewable Energy formally launched the portal for e-auction of 24 coal mines here on Thursday.
With this , the registration process has been started and interested bidders with end use plants could visit MSTC website for the purpose.
The registration process will be as per KYC norms and will be available on MSTC website.
While speaking on the occasion, Piyush Goyal said that entire auction process will be transparent, efficient and conducted online only.
"However, 2 documents the Bank Guarantee comprising the bid security and an Undertaking stating that all information submitted is true and correct shall be received in hard copy. The auction process will comprise (i) Techno–commercial bid for qualification and (ii) Financial bid (e-auction) for selection of successful bidder. Only 50% of the qualified bidders from technical stage (subject to a minimum of 5 bidders) will be allowed to participate in the e-auction process," said he.
Mines set aside for iron & steel, cement and CPPs will be auctioned through ‘Ascending Forward Auction’, where qualified bidders will quote incremental bids above the pre-determined floor price.
Mines to be allocated for power sector will be auctioned through ‘Descending Reverse Auction’ to minimise impact on power tariffs of end use plants.
Last date for receiving technical bids will be January 31, 2015 and list of qualified bidders will be placed on MSTC website on February 12, 2015.
E-auction of coal mines for qualified bidders will be held from February 14, 2015 to February 22, 2015.
The entire mine allocation process for Schedule II coal mines will be completed by March 23, 2015 with the signing of Coal Mine Development & Production Agreement and the Vesting Order.
The second phase of auction for 32 Schedule III coal mines will commence soon, the government said.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Bihar minor assault horror: Key accused shot in legs by cops
Tue, Sep 22 2026
Heartwarming rescue: Fishermen brave Teesta's currents to save one-month-old elephant calf
Tue, Sep 22 2026
Delhi women's safety under spotlight: 17-year-old allegedly gang-raped near Kalkaji Mandir in fourth such incident in 10 days
Tue, Sep 22 2026
IIT Bombay professor gets faculty backing after student death controversy; protests intensify over suspension
Tue, Sep 22 2026
Tragedy in Telangana: 5-day-old infant dies after fire breaks out at Telangana hospital
Tue, Sep 22 2026
'Sandhya Didi has put on weight': Kailash Vijayvargiya's remark on BJP councillor sparks row
Mon, Sep 21 2026