The second day of auction of ready-to-produce coal blocks started with the sale of Meral in Jharkhand for Rs 727 a tonne to Trimula Industries Ltd. The company's bid beat the likes of Hindustan Zinc, Jaypee Cement and others.
The non-power sector block has reserves of 17.045 million tonne.The previous owner of the block was Abhijeet Infrastructure Ltd.
The other block on offer is Mandakini in Odisha which is reserved for the power sector and has geological reserves of 322.79 mt.
Auctioning for the block has already moved to the forward bidding stage at Rs 124 a tonne. Bids for Mandakini opened at Rs 1 a tonne in the reverse bid stage and quickly hit zero bid.
Bidders in the fray for the blocks include Adani Power, GMR Mining, and Jindal Power.