125 Coal Mines Attract Rs 40,900 Cr Investment, Generating 4 Lakh Jobs: Government
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Synopsis
On March 28, the government announced that the coal sector is a major player in 'Atmanirbhar Bharat', with 125 coal mines auctioned, attracting investments of Rs 40,900 crore and creating over 4 lakh jobs. The 12th auction round aims to boost domestic coal production and energy security.
Key Takeaways
- 125 coal mines auctioned
- Investment of Rs 40,900 crore
- Creation of over 4 lakh jobs
- 12th tranche of coal mine auctions launched
- Focus on energy self-sufficiency
New Delhi, March 28 (NationPress) The coal industry is evolving as a significant advocate of ‘Atmanirbhar Bharat’, with 125 coal mines successfully auctioned through 11 rounds, drawing in investments of about Rs 40,900 crore and generating over 4 lakh direct and indirect jobs, according to the government.
The Ministry of Coal has initiated the 12th round of commercial coal mine auctions as part of its ongoing commitment to boost domestic coal output and enhance India’s energy security.
This 12th tranche includes an additional 28 coal and lignite blocks for auction, which will further decrease India’s dependence on imported coal and aid in foreign exchange conservation, stated Union Minister of Coal and Mines, G. Kishan Reddy.
“The transparent auction system has fostered healthy competition, encouraging public sector PSUs to vie with private entities, thus enhancing efficiency, fostering reforms, and driving operational evolution. This transition significantly boosts the global competitiveness of India’s coal sector,” the minister remarked.
The Union Minister urged all stakeholders and industry participants to take part in the 12th auction round, highlighting the shared responsibility in establishing a secure and self-reliant energy future for India.
In his remarks, Union Minister of State for Coal and Mines, Satish Chandra Dubey, mentioned that with India exceeding 1 billion tonnes of coal output, the commencement of the 12th commercial coal mine auction represents another vital advancement towards energy self-sufficiency.
He stressed that a transparent auction framework, favorable industry policies, and increased participation from the private sector will not only bolster coal production but also draw investments, create job opportunities, and accelerate infrastructure development.
This auction also features two lignite mines, addressing diverse energy requirements. Among the total mines, 13 are fully explored and primed for immediate development, while 12 are partially explored, providing long-term investment prospects and contributing to the growth of India’s coal sector.
Additionally, three mines from previous rounds of commercial coal mine auctions are also included. The mines available for auction are located in coal and lignite-rich states like Jharkhand, Chhattisgarh, Odisha, Madhya Pradesh, Maharashtra, West Bengal, and Rajasthan.
