Jindal Power Limited (JPL) a subsidiary of Jindal Steel & Power Limited (JSPL) has been declared the successful bidder for Gare Palma IV/1 coal mine by the Ministry of Coal.
A statement from the ministry of coal read, “I am pleased to inform you that Jindal Power Limited has been declared as the Successful Bidder in respect of Gare-Palma-IV/1 Coal Mine in the first ever auction of coal mines for commercial mining in the country. This declaration is in pursuance of directions of the Government of India vide Office Memorandum No. CBA2-13016/5/2020-CBA2 dated December 23, 2020 under the provisions of Coal Mines (Special Provisions) Act, 2015 read with Rule 10 (10) of Coal Mines (Special Provisions) Rules, 2014, the Tender Document dated June 18, 2020, Technical Bid dated September 28, 2020 and the Final Offer submitted by the Successful Bidder i.e. 25% of the revenue share, for the Coal Mine.”
Reacting to the news, JSPL MD VR Sharma said, “Jindal Power Ltd. won an auction for Gare Palma IV/1 coal mine at 25% bid premium of the representative price. We are thankful to the Ministry of Coal for declaring us as the successful bidder.”
JSPL is a leading Indian Infrastructure Conglomerate with a presence in the Steel, Power, and Mining sectors. With an investment of approximately 12 billion USD (90,000 Crore Rupees) across the globe, the Company is continuously scaling its capacity utilization and efficiencies to contribute towards building a self-reliant India.