Prakash Industries emerges as highest bidder for Bhaskarpara coal block

Prakash Industries on Wednesday emerged as the highest bidder for Bhaskarpara coal block in Chhattisgarh, an official said.

Birla Corporation had on Tuesday bagged the Brahmapuri mine in Madhya Pradesh, the official said quoting the results of e-auction for coal mines under the eight tranche.

Jindal Steel and Power Ltd (JSPL) was the highest bidder for Gare Palma IV/1 coal block in Chhattisgarh with a bid price of Rs 230 per tonne on Monday. Birla Corporation Ltd bagged the Bikram coal block in Madhya Pradesh with a bid price of Rs 154 per tonne last week.

Six mines are on offer. Auctions for four blocks have been completed, the official said.

The bidding for Jagannathpur B block and Jamkhani block will take place on Thursday and Friday, respectively.

Bhaskarpara coal block was previously allocated to Bhaskarpara Coal Company Ltd (BCCL) -- a joint venture of Electrotherm (India) Ltd and Ultratech Cement Ltd, while Brahmapuri mine was previously allocated to Pushp Steels & Mining.

The Supreme Court had in 2014 cancelled 204 coal mines allocated to various government and private companies since 1993 under the provisions of the Coal Mines (Nationalisation) Act, 1973.