Manoj Gaur-led Jaypee Group and Anil Agarwal-led Vedanta Group emerged winners of coal blocks on day four of the coal block auctions.
Bharat Aluminium Company Ltd, where mining major Vedanta Group owns a 51 per cent stake, won the Chotia coal block in Chhattisgarh with a bid of Rs 3,025 per tonne. BALCO beat bids from Kumar Mangalam Birla's Hindalco and UltraTech Cement amongst others.
Beating the likes of Adani Power, and Anil Ambani Group’s Reliance Geothermal, Manoj Gaur-led Jaypee Group won its second coal block in the auctions. Jaiprakash Power Ventures emerged the highest bidder for the Amelia North block in Madhya Pradesh, with bid of ₹ 712 per tonne.
The block reserved for the power sector hit a ‘zero’ bid early in the day and subsequently moved to a forward bidding on the amount of royalty payable to the state Government.
Jaypee Group’s Jaiprakash Associates had won the Mandla North block in Chhattisgarh on Monday.
The second block on Day 4 went to OCL Iron and Steel for Rs 2,302 per tonne. Ardhagram, located in West Bengal has reserves of 25.6 million tonne.
Bidding for Chotia had reached ₹2,409 per tonne till late evening. The auctions which started on Febraury 14 has seen seven blocks being awarded to players including Anil Ambani's Reliance Cement, GMR Chhattisgarh Energy Ltd, Adiya Birla's Hindalco Ltd, RP Sanjiv Goenka's CESC Ltd.