Adani Group bags two out of three commercial coal mines in auction
Auctions for three coal blocks concluded on Monday, while five more will undergo auction on Tuesday and Wednesday
Adani Group bags coal mines in Maharashtra and Chhattisgarh
BusinessToday.In
Updated Aug 03, 2021, 10:58 AM IST
Adani Group has emerged as the highest bidder for two coal blocks in Maharashtra and Chhattisgarh auctioned for commercial use. Auctions for three coal blocks concluded on Monday, while five more will undergo auction on Tuesday and Wednesday. Gurugram-based South West Pinnacle Exploration was the preferred bidder for the third coal mine in Jharkhand.
Adani Power Maharashtra reportedly quoted a premium of 9.5 per cent over floor price for Maharashtra’s Gondkhari coal mine, said a person in the know to The Economic Times. Also in the fray was Sunflag Iron and Steel. The mine has 98.71 million tonnes of geological reserves.