New Delhi, March 23: The government Monday is believed to have allotted the three cancelled coal blocks, for which JSPL and Balco had emerged as the highest bidders in the recently concluded auctions, to state-owned miner Coal India Ltd.
“Three coal blocks – Gare Palma IV/1, IV 2 and IV 3 under Schedule II mines (blocks under production) have been Monday allotted to Coal India Ltd. JSPL and Balco had been successful bidders for these blocks,” a highly placed source said.
The development comes amid Jindal Steel and Power Ltd Monday moving the Delhi High Court against the decision of the Centre to cancel the coal blocks saying that the company apprehends that the blocks might be allocated to someone else as the government is “moving very fast”.
The source said the government decided promptly to allot the blocks to Coal India as the Supreme Court had allowed companies to continue mining till March 31 in blocks where coal production had already started. Total reserves of the three mines amount to 313.68 MT.
The government had cancelled four blocks including Tara which falls under Schedule III (ready for production) category March 20 saying the bids were undervalued and it will take a final call on these soon after deliberations. PTI
