India extends timeline for tenders of 18 coal blocks

The submission date for technical bids has been transferred from 19 December to 2 January.

India’s coal ministry extended the tenders of 18 coal blocks and has also adjusted terms and conditions for successful bidders, Mining Weekly reports.

The submission date for technical bids has been transferred from 19 December to 2 January. The price bidding for the assets will be held between 14 and 27 January.

The ministry added rules enabling successful bidders free merchant sale for up to 25% of production from each block. It also allowed the extension of the time period for bringing each block into production from four to five year.

The 18 coal blocks at peak aggregate capacity utilisation are expected to yield 32-million tonnes a year, resulting in a maximum of 8 million tonnes a year of free coal sale flowing into the shortage-hit dry fuel domestic market.